The former CEO of Dynamic Oil Trading, the Singapore-based subsidiary of O.W. Bunker, will be put on trial against alleged fraud at the Danish court on April 4.
Denmark’s general prosecutor in July 2017 charged Lars Moller over fraud of agent for more than DKK 800 million ($132.52 million).
He offered credit far beyond the capacity of O.W. Bunker’s financial system to Tankoil and Petrotec, both firms managed by Dennis Tan, partly resulting in the parent company’s fall in 7 November, 2014.
Arvid Andersen, the lawyer representing Moller, said O.W. Bunker management’s knowledge of credit being offered to Dynamic Oil will be a key factor in proving Moller’s innocence.
"Obviously, the more management knew, the less obvious it will be that my client has committed a misconduct," he told Danish paper Nordjyske.
It noted former top executives of O.W. Bunker, including ex finance directors Morten Skou and Kent Larsen, former chairman Niels Henrik Jensen, as well as former deputy chairman and partner of the Altor capital fund Soren Johansen, to be involved in the upcoming trial.
Photo credit: Dynamic Oil Trading
Published: 29 March, 2018
Allegedly, two senior government officers unlawfully issued exemption letters allowing selected companies to transport HGO in single hull vessels.
Meeting will be held at 80 Robinson Road, #02-00, Singapore 068898 at 1130 am on 20 September 2022 at 11.30 am, according to the Government Gazette.
Application under Section 211B(1) of the Companies Act to be heard before High Court of Singapore on 16 March.
Special ops will be conducted using helicopters to communicate with any illegal foreign vessels; targets will then have four hours to remove itself from Malaysian waters.
Latest document provides ‘harmonised’ approach to the inspection of ships for sulphur compliance.
Over 11 separate marine refuelling operations at various ports between March to October 2018.
Digitalisation makes it easier for shipowners to conform to growing external regulations such as new sulphur regulations and ‘no scrubber’ zones; operators can identify better bunkering options to reduce costs.
‘We’ll start the application [to MPA] before the end of 2022 and hopefully to receive approval within six months or sooner,’ L. Y. Hwang, Director / General Manager of Oval Asia Pacific Pte Ltd, tells Manifold Times.
Rob Ashton, Market Manager of Infineum, explains how Infineum B402 is a relatively easy way for a ship operator to positively influence a vessel’s CII rating while improving its bunker fuel consumption performance.
Eventual adoption of Digital Bunker Document Standard speeds up interoperability between stakeholders from both public and private sectors, learns Singapore bunkering publication Manifold Times.
ISO delegates represented seven countries and were in Singapore to attend a three-day meeting of ISO WG13 to develop two new ISO bunkering standards, learns Singapore bunkering publication Manifold Times.
Cai Zhi Zhong received a total of about USD 1.3m to USD 1.6m, of which he saved a portion and spent the rest, including on property, cars and watches, according to court documents obtained by Manifold Times.
