World News
Former Altor Exec Behind OW Tanker Purchase
Denis Viet-Jacobsen, former OW Bunker board member and a leading partner in Altor Equity Partners until 2010, has been confirmed among the investors that enabled Alba Tankers Aalborg ApS (Alba Tankers) to acquire OW Tanker's vessels after the company's collapse late last year, Danish media reports.
"I can confirm Denis Viet-Jacobsen is among the investors in our new company," says Henrik Holst Pedersen, director at Alba Tankers, noting the the company has a series of investors behind the company, including himself.
Last month, the series of investors reportedly helped to form the company known as Alba Tankers, in order to continue the acquisition and operation of vessels halted after the OW Bunker bankruptcy.
Viet-Jacobsen, who is now CEO of Solix Group AB (Solix), an investment company he co-founded with Johan Cervin, has reportedly not commented on the newly released investor information.
"We are speaking not about specific customer relationship, but we have said that we are not going to lose money on our commitment to the ships," said Lars Møller, Managing Director at Spar Nord Bank A/S (Spar Nord), which is behind the financing for the acquisition of the seven vessels, said to form the basis of Alba Tankers.
Altor was the owner of OW Bunker prior to its IPO in March, and is one of the parties to have come under heavy criticism in the fallout of the bunker company's demise.
In December, 25 institutional investors filed damages claims against OW Bunker and Altor totalling DKK803 million ($129 million) who say the now defunct bunker supplier was misrepresented in its IPO prospectus.
In November, it was announced that Alba Tanker ApS (Alba Tanker) would take over OW Tanker's fleet of 29 ships.
In December, it was reported that Sweden's Sirius Shipping Aps had signed a contract with Alba Tankers to manage seven tankers formerly belonging to OW Tanker.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 528.50 | 1.50 | 674.50 | 1.50 |
| Rotterdam | 510.50 | 1.00 | 695.00 | 7.50 |
| Houston | 495.00 | 2.50 | 698.50 | 0.50 |
| Fujairah | 519.00 | 0.00 | 729.50 | 2.50 |
| Global 20 Ports Average | 555.50 | 0.00 | 768.00 | 0.00 |
| Global 4 Ports Average | 513.50 | 1.00 | 699.50 | 2.00 |
| Global Average Bunker Price | 589.00 | 1.50 | 812.50 | 0.50 |
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