Skuld: Sub-Contractor Claims May Follow OW Bunker Bankruptcy

by Ship & Bunker News Team
Tuesday November 11, 2014

Insurer Skuld Friday warned P&I Club members that sub-contractors left unpaid after delivering bunkers under OW Bunker supply agreements may look to pursue vessels directly for payment.

The mutual insurer issued loss prevention advice to shipowners and charterers among its members that they should review any arrangements involving OW Bunker.

"Members that have recently taken bunkers via OW Bunkers A/S, a subsidiary or an affiliated company, should urgently review the situation with respect to the payment for the stem," said Skuld.

"This is because there could be potential issues in relation to claims from sub-contractors who themselves may not have been or may not be paid in the present circumstances and who may therefore look to the vessel directly for payment."

Similarly members with planned bunker supplies involving OW Bunker, or with vessels on charter from OW Bunker, were advised to review payment arrangements.

"Given the size of this supplier it is likely to have an effect on a significant amount of bunker delivery contracts, for bunkers already supplied and yet to be supplied," added Skuld.

A lawyer for Dynamic Oil Trading CEO Lars Møller has said there was no fraud, only an "untimely lack of care," at the OW Bunker subsidiary.

Ship & Bunker News Team
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