OW Bunker Collapse: can it happen again?

OW Bunker Collapse: can it happen again?

The OW Bunker bankruptcy affected over 20,000 shareholders, drying up credit liquidity in major ports and started a barrage of legal proceedings for shipowners, banks and physical suppliers around the world.

 

Could it happen again?

 

To answer that, we first need to explore what happened.

 

The timeline

 

28th March 2014 → OW IPO is a smashing success (shares up 20%).

3rd October 2014 → OW releases a profit warning.

23rd October 2014 → OW estimates loss at $24.5m.

5th November 2014 → Loss estimate increases to $150m.

7th November 2014 → OW files for bankruptcy.

 

It’s a staggering fall from grace: from being valued at nearly $1 billion at […] Read more

Introducing Credit for Bunker Buyers

Introducing Credit for Bunker Buyers

We’re pleased to announce the launch of a new, dedicated service for setting up credit lines for bunker buyers with our trusted and verified suppliers*. This can be found at bunker-ex.com/credit.

 

The service utilises our database of information to determine:

Which documents are needed to set up credit (as all suppliers are different, and some need more documents than others).
How many potential credit lines a buyer should have for good, competitive coverage.
If a company is not keen on giving out their financials, we have an algorithm that determines the maximum supplier coverage they can achieve from a minimum amount of credit lines.

For […] Read more