Wiljo Invites Bids as it Moves to Sell Off Bunker Business in Wake of OW Bunker Collapse

by Ship & Bunker News Team
Monday January 19, 2015

Belgian bunkering and oil trading company Wiljo is set to sell off all physical bunkering operations, ShppingWatch reports.

"In order to achieve its continuance and to preserve its value and economical activities…the Management of Wiljo made the decision to split off the ship-bunkering department and activities of Wiljo," said the company.

"A bidding process for the sale of the bunker activities has been opened to any interested party."

Wiljo was named among OW Bunker's biggest creditors following the Danish company's collapse in November, reportedly having been left with more than $10 million worth of unpaid bills.

The company recently filed for bankruptcy protection in Belgium in a process said to be akin to U.S. Chapter 11 proceedings.

In December, the Commercial Court of Antwerp, which granted the bankruptcy protection, said "that in view of the restructuring of Wiljo, parts of the company, or even the whole company could be transferred."

The bidding process for Wiljo's bunkering operations, which have a significant presence at large Belgian and Dutch ports, is expected to last until January 30.

Wiljo is understood to be the first major bunkering company to have fallen as a direct result of OW Bunker's demise.

In the immediate aftermath of OW Bunker's collapse, Wiljo attempted to enforce debts by arresting 10 to 15 vessels.

Ship & Bunker News Team
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