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OW Bunker: High Court explains reviewed judgement of Lars Moller

Defendant continually informed of the problems with Tankoil, without having reacted, and misled management.

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Manifold Times readers with knowledge of Danish will be able to obtain the original judgement at the link here.

The High Court of Denmark, also known as Højesteret, on Friday (14 June) issued a statement explaining its judgement to increase the prison sentence of defendant Lars Moller, the former CEO of OW Bunker subsidiary firm Dynamic Oil Trading (DOT), from one year and six months to five years.

The hearing at Vestre Landsret, the regional court in Jutland, found Moller guilty of mandatory fraud of “a particularly serious nature” pursuant to § 280, no. 2 of the Criminal Code, cf. 2nd and increased punishment.

“The defendant, as CEO of DOT, was responsible for compliance with the credit line to Tankoil. Based on the financial manager's ongoing updates of the defendant, it must be assumed that he was aware that the debt to Tankoil increased significantly throughout the period,” stated the court.

“He was also familiar with the lack of accounting for sales to Tankoil, as well as being aware of the significant difference in the credit exposure that emerged from the finance system and the one that appeared on the spreadsheet. 

“He was therefore also aware that the credit limit for the entire period was significantly exceeded, and in autumn 2014 exceeded by over USD 100 million.”

The court added Moller was aware that incorrect information was provided to the OW Bunker Group Management on the credit granting to Tankoil.

However, Moller has not been able to explain why DOT provided false information if – as he claimed – no credit limit was set and thus Moller and DOT had nothing to hide. 

It also found the OW Bunker management being given incorrect and misleading information about credit exposure to Tankoil and was unaware of many non-invoiced invoices.

“The High Court finds, on the background stated, that the accused intentionally acted against his best interests in a property matter which it was incumbent upon him to handle for another,” it said.

“Furthermore, it has been proved that, as a result, the DOT and OW Bunker Group incurred a loss of USD 114.8 million.  The High Court also considers that Tankoil thereby obtained an unjustified gain consisting of the oil received without having paid for it, which the defendant also intends to do, as, as mentioned above, he knew that Tankoil was not able to pay his debt to DOT.”

In conclusion, the court found Moller “guilty of mandatory fraud of a particularly serious nature for a very significant amount of USD 114.8 million committed over a period of one and a half years.” 

“The defendant was continually informed of the problems with Tankoil, without having reacted, and during the entire period with the accused's knowledge, incorrect and misleading information was given to the management of OW Bunker,” it stated.

“The very significant loss incurred by the Group was a major contributor to the Group's bankruptcy. 

“In the opinion of the High Court, this must be included as aggravating circumstances in determining the penalty. In the attenuating direction, it must be understood that the defendant did not even obtain an unjustified gain.”

Related: OW Bunker: Public Prosecutor planning to review judgement
RelatedOW Bunker: Judgement to be appealed
RelatedOW Bunker verdict: Prison sentence for Lars Moller
RelatedOW Bunker: Verdict to be out on Wednesday
RelatedDynamic Oil trial: Lars Moller provides testimony
RelatedAll eyes on Dynamic Oil criminal trial at Denmark
RelatedDynamic Oil criminal trial set to begin in April

Photo: Per Johansen
Published: 17 June, 2018

 

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Winding up

Singapore: High Court to hear Norvic Shipping Asia winding up application on 31 July

Application for the winding up of Norvic Shipping Asia Pte Ltd was filed by Netherlands-registered Mur Shipping BV on 8 April, according to Government Gazette notice.

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An application for the winding up of Norvic Shipping Asia Pte Ltd was filed by Netherlands-registered Mur Shipping BV on 8 April, according to a Tuesday (21 July) notice on the Government Gazette.

It noted the winding up application is directed to be heard before the Judge sitting in the General Division of the High Court at 10am on 31 July.

Any creditor or contributory of the company desiring to support or oppose the making of an order on the winding up application may appear at the time of hearing by himself or his counsel for that purpose.

A copy of the winding up application will be furnished to any creditor or contributory of the company requiring the copy of the winding up application by the solicitors of the applicant’s, Oon & Bazul LLC, on payment of the regulated charge for the same.

The Applicant’s address is Hiridostraat 5, Gebouw Prismatrium, 1101CW Amsterdam, The Netherlands.

The Applicant’s solicitors are Oon & Bazul LLC of 103 Penang Rd, #04-04/05/06 Singapore 238467. 

Queries on the winding up application may be directed to the following email addresses: [email protected] and [email protected].

 

Photo credit: Manifold Times
Published: 22 July, 2026

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Methanol

World Fuel and partners complete first green methanol bunkering of car carrier in Shanghai

Operation involved the delivery of approximately 2,800 MT of green methanol to “Arctic Tern” via a ship-to-ship transfer using SIPG Energy’s dedicated methanol bunkering vessel “M/V Hai Gang Zhi Yuan”.

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World Fuel and partners complete first green methanol bunkering of car carrier in Shanghai

Marine fuel provider World Fuel on Tuesday (21 July) said it successfully completed the first green methanol bunkering of M/V Arctic Tern, with EUKOR Car Carriers and SIPG Energy at the Port of Shanghai. 

Arctic Tern is the first vessel in the new Shaper Class series of car carriers. 

The operation involved the delivery of approximately 2,800 MT of green methanol to Arctic Tern via a ship-to-ship transfer using SIPG Energy’s dedicated methanol bunkering vessel M/V Hai Gang Zhi Yuan, the largest vessel of its kind in operation. 

The bunkering operation was carried out at Haitong Terminal, Waigaoqiao Port Area, Shanghai Port, with cargo handling operations conducted simultaneously during bunkering.

This marks EUKOR Car Carriers’ first green methanol operation and the first time Arctic Tern has bunkered methanol since its delivery on 9 July. The operation marked the first bunkering at Shanghai Port of green methanol produced locally in Shanghai for an international PCTC operator. 

It also demonstrated the city’s integrated green methanol value chain, spanning local production, storage and bunkering, and established a replicable “Shanghai Model” for green methanol supply.

World Fuel arranged the supply and delivery of the fuel on behalf of EUKOR Car Carriers, working with SIPG Energy as the physical supplier at the Port of Shanghai.

The green methanol supplied was produced from municipal solid waste, ISCC-EU certified, and had a carbon intensity value below 25 gCO₂e/MJ.

Arctic Tern is the first of fourteen Shaper Class vessels ordered by Wallenius Wilhelmsen. With a capacity of 9,300 car equivalent units and methanol dual-fuel capability, the vessel will be operated by EUKOR Car Carriers, jointly owned by Wallenius Wilhelmsen and Hyundai Motor Group. Following her first green methanol bunkering, Arctic Tern will continue her maiden voyage from Asia to Europe.

Xavier Leroi, COO Shipping Services at Wallenius Wilhelmsen and CEO of EUKOR Car Carriers, said: “Completing Arctic Tern’s first green methanol bunkering shortly after delivery is a significant milestone towards our decarbonisation ambition for both EUKOR Car Carriers and Wallenius Wilhelmsen. It demonstrates how investments in next-generation vessel technology and fuel flexibility are being translated into real-world operations. 

“This achievement reflects the strong collaboration between all parties involved. Together, we have shown how partnerships across the maritime value chain can help make lower-emission fuels available and operationally viable at scale.”

Mark Tamsitt, SVP Global Marine Sales at World Fuel, said, “The first bunkering event with a new fuel is a significant moment for any shipowner, and our role is to make it as seamless as possible. By connecting EUKOR Car Carriers with SIPG Energy’s proven green methanol capability at the Port of Shanghai, we were able to deliver on reliable supply, fuel quality, and safe processes. As more of our customers bring methanol dual-fuel tonnage into service, we are committed to being the partner that makes these kinds of operations routine.”

Mr. Zhang Da, General Manager of SIPG Energy, said, “Welcoming Arctic Tern to the Port of Shanghai for her first green methanol bunkering demonstrates the strength and maturity of our supply capability. Building on our well-established methanol ship-to-ship bunkering services for container vessels, we have already extended such services to pure car and truck carriers (PCTCs). This bunkering sets a new record for the largest single SIMOPs green methanol bunkering for PCTCs in China, marking another step in building Shanghai’s position as a global green energy hub for international shipping.”

This operation follows Wallenius Wilhelmsen’s announcement on 9 July that Arctic Tern would complete her first methanol bunkering shortly after delivery. The vessel entered service on routes between Asia and Europe immediately following handover from China Merchants Jinling Shipyard in Nanjing.

 

Photo credit: World Fuel
Published: 22 July, 2026

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Ammonia

HPA and MB Energy develop safety concept for STS ammonia bunkering

HPA says the Port of Hamburg will become “bunker ready” for ammonia, laying the groundwork for safe and reliable ammonia bunkering in the future.

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HPA and MB Energy develop safety concept for STS ammonia bunkering

The Hamburg Port Authority (HPA) and integrated energy company MB Energy on Tuesday (21 July) said they have completed a comprehensive risk analysis and developed a dedicated safety concept for ship-to-ship ammonia bunkering.

MB Energy said the analysis lays the groundwork for the safe introduction of ammonia as a future marine fuel.

“With our planned ammonia import terminal in Hamburg-Blumensand, MB Energy intends to provide the reliable land side supply infrastructure needed to support this transition across northern German ports,” it said in a social media post. 

Mabanaft Group was renamed to MB Energy last year and merged over 50 existing brands under one identity. 

Separately, HPA said the Port of Hamburg will become “bunker ready” for ammonia, laying the groundwork for safe and reliable ammonia bunkering in the future.

“The focus is in particular on container ships, cruise ships as well as RoRo and ConRo (Container/RoRo) ships,” it said. 

“We expect ammonia to establish itself as an alternative marine marine fuel in the coming years. With our preparatory work, we are already creating the conditions to welcome the first ammonia-powered ships in Hamburg and to bunker them safely.:

HPA added that the import terminal for ammonia planned by MB Energy from 2029 will make a decisive contribution to ensuring the reliable availability of ammonia as a bunker fuel in northern German ports in the long term. 

“The use of an ammonia bunker barge is considered a possible addition to the landside infrastructure to enable ship bunkering in the port and beyond in the future,” it said.

Related: Mabanaft Group renames as MB Energy, merging over 50 brands under one identity

 

Photo credit: Hamburg Port Authority
Published: 22 July, 2026

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