World News
OW Bunker Far East to Meet Creditors in Singapore on December 4
Creditors of OW Bunker Far East (Singapore) Pte. Ltd. (OW Bunker Far East), one of now-defunct OW Bunker's group companies, are due to meet with representatives for the company on December 4 as part of the liquidation process, Platts reports.
Bob Yap, partner at KPMG Singapore, has been appointed provisional liquidator for OW Bunker Far East as well as OW Bunker's other Singapore subsidiary, Dynamic Oil Trading (DOT).
"A similar process has started at Dynamic and there will also be a creditors meeting after a review of the company's affairs," said Yap.
DOT filed for bankruptcy in Singapore last Tuesday, November 18.
PWC has been appointed receiver for OW Bunker's worldwide pledged assets, and expects to conduct the work from London and Singapore.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 596.50 | 0.50 | 688.00 | 1.00 |
| Rotterdam | 523.00 | 2.50 | 677.00 | 1.00 |
| Houston | 550.50 | 0.00 | 676.50 | 8.00 |
| Fujairah | 582.00 | 2.50 | 758.50 | 5.50 |
| Global 20 Ports Average | 599.50 | 0.50 | 757.50 | 2.00 |
| Global 4 Ports Average | 563.00 | 1.50 | 700.00 | 4.00 |
| Global Average Bunker Price | 644.50 | 1.50 | 813.50 | 0.50 |
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