Sign up
Log in Sign up
Wed 19 Nov 2014, 12:31 GMT

Dynamic Oil Trading Singapore files for liquidation


OW Bunker subsidiary files for liquidation. KPMG appointed as provisional liquidator.

Dynamic Oil Trading Singapore Pte. Ltd. - the Singapore-based subsidiary of OW Bunker - filed for liquidation on Tuesday, just days after the Danish fuel supplier's other Singapore unit, OW Bunker Far East (Singapore) Pte. Ltd., was placed into bankruptcy.

Last week, Bob Yap, Head of Advisory at KPMG, was cited as saying that KPMG had been appointed as the provisional liquidator for OW Bunker Far East (Singapore) Pte. Ltd.

Yesterday, Reuters claimed that KPMG had also been appointed as provisional liquidator for Dynamic Oil Trading Singapore. The KPMG appointment was also confirmed to The Wall Street Journal by "a KPMG spokeswoman" yesterday and to Singapore's The Business Times by "a KPMG spokesman".

OW Bunker Far East is scheduled to hold a meeting with KPMG on December 4 to discuss its outstanding debt, according to Reuters.

The aim of the meeting will also be to start the process of winding down OW Bunker in Singapore and receive a list of creditors and their claim amounts.

OW Bunker already confirmed that the Denmark-registered business, Dynamic Oil Trading A/S, had been placed under formal bankruptcy proceedings earlier this month.

Chart showing Singapore TTM bunker sales, November 2025. Singapore bunker sales break new ground as TTM volumes surpass 56m tonnes  

Trailing 12-month bunker sales rise to new all-time record at Asian port.
Bow Leopard vessel. Odfjell launches operational green corridor between Brazil and Europe using biofuel  

Chemical tanker operator establishes route using B24 sustainable biofuel without subsidies or government support.
United LNG I vessel. Somtrans christens 8,000-cbm LNG bunker barge for Belgian and Dutch ports  

United LNG I designed for inland waterways and coastal operations up to Zeebrugge.
Photograph of a red container vessel. BIMCO adopts FuelEU Maritime and ETS clauses for ship sales, advances biofuel charter work  

Documentary Committee approves regulatory clauses for vessel transactions, progresses work on decarbonisation and emerging cargo contracts.
ABS, Eneos, NYK Line and Seacor Holdings logos side by side. Four companies launch study for US methanol bunkering network  

ABS, Eneos, NYK Line, and Seacor to develop ship-to-ship methanol supply operations on Gulf Coast.
CMA CGM Antigone naming ceremony. CMA CGM names dual-fuel methanol vessel for Phoenician Express service  

CMA CGM Antigone to operate on BEX2 route connecting Asia, the Middle East and Mediterranean.
Capt. Kevin Wong, Golden Island. Golden Island appoints Capt Kevin Wong as chief operating officer  

Wong to oversee ship management and low-carbon fuel development at Singapore-based marine fuels company.
LPC and Gram Marine launch operations in Argentina graphic. LPC launches Argentine marine lubricants hub with Gram Marine  

Motor Oil Hellas subsidiary partners with maritime services provider to supply products to regional ports.
Chicago Express vessel. Hapag-Lloyd orders eight methanol-powered container ships worth over $500m  

German carrier signs deal with CIMC Raffles for 4,500-teu vessels for 2028-29 delivery.
Global Ethanol Association (GEA) and Vale logo side by side. Vale joins Global Ethanol Association as founding member  

Brazilian mining company becomes founding member of association focused on ethanol use in maritime sector.




 Recommended