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.
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