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Alleged Dynamic Oil Trading Fraud was "Untimely Lack of Care" and Not Illegal Activity, Says Lawyer

"The case is not that somebody has stolen money" but "that a big credit given to one customer was built up," says a lawyer.

Analysts: Aegean, World Fuel Services Set for Growth Following OW Bunker Collapse

"Aegean's business model is differentiated enough from that of OW to make a repeat of the same problems unlikely," says a Nasdaq report.

Maersk Line Tenders for 10 Feeders Optimised for Low Sulfur ECA Operation

Maersk Line is said to be tendering shipyards to build 10 new 3,400 TEU feeders for its Baltic fleet.

Energy Efficiency Factors in KOGAS Decision on New LNG Carrier Builders

KOGAS has chosen DSME to build four of six new carriers and SHI to build the other two, with DSME citing energy efficiency as its edge.

Update 1: OW Bunker Files for Bankruptcy, Two Dynamic Oil Trading Employees Reported to Police

"It is not possible to save the remaining business," says Chairman of the Board of Directors, Niels Henrik Jensen.

Reports: Senior Managers Reject Dynamic Oil Trading Fraud Claims

"We're still not sure whether this was actually illegal," says OW Bunker Chairman Niels Henrik Jensen.

Nasdaq OMX: OW Bunker Scandal is "Poison to the Stock Market"

"There's no doubt this case is damaging to investors and the stock market," says head of listings Carsten Borring.

China to Keep Close Eye on 2M Alliance

Chinese regulations are said to be worried over the alliance's large market share on key trade lanes.

Excelerate to Take Lead in Guinea FLNG Project

Excelerate will work with Black & Veatch and SHI to develop Ophir Energy's FLNG project.

Brazil Gives Okay on Hapag-Lloyd, CSAV Merger

The merger is one step closer to completion.

OW Bunker Collapse: No Arrests Despite Confession, Serious Fraud Office Ready to Act

Manager at Dynamic Oil Trading reported to have confessed to the fraud that has been taking place over the past six months.

Weekly Vessel Scrapping Report: 2014 Week 45

Weekly Vessel Scrapping Report: 2014 Week 45

Have you sold bunkers to a recently scrapped vessel? Check here with VesselsValue.com's demolition sales from October 30 - November 5th, 2014.

OW Bunker Given Until December 1 for Restructuring Plan

"The impact to employees, shareholders, and customers is terrible," says OW Bunker and partner in major shareholder Altor Equity Partners.

Update 2: OW Bunker Expects to be Insolvent, Commences In-Court Restructuring

"it must be assumed that the group's equity is lost," says OW Bunker.

Singapore, Malta Bunker Venture Moves Forward

New joint venture between Singapore's IEG and Malta Enterprise aims to create an energy trading hub in Malta.

IBIA Launches Port Charter for Better Quality Bunkers

The International Bunker Industry Association has launched a Port Charter scheme aimed at ensuring "quality, quantity and transparency."

Oil Bounces Back

The build in U.S. inventories was much less than expected.

Update 1: OW Bunker Hit By $125 million Fraud at Singapore Subsidiary, $150 million Mark to Market Loss

Senior employees at Dynamic Oil Trading involved in the fraud, Jane Dahl Christensen dismissed over risk management loss.

Update 3: OW Bunker Shares on Matching Halt, Market Awaits "Significant Announcement"

The move is typical prior to a price sensitive announcement.

CMA CGM Lowers Fuel Costs Through Ship Retrofits

The company aims to save 5 percent on fuel costs.

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