Wilhelmsen Marine Fuels’ main activity is broking services from offices based in Oslo, London and Singapore, operating on a global basis, but with a key presence in Singapore and the ARA-region (Amsterdam, Rotterdam, Antwerp).
Executive vice president, Götz Lehsten, OW Bunker, said:“Wilhelmsen Marine Fuels has a strong team and an interesting customer base that fits well into OW Bunker’s integrated business model. Apart from strengthening our position in Norway, Wilhelmsen Marine Fuels has the potential to support both our reselling and physical distribution activities.”
Wilhelmsen Marine Fuels has 15 employees and will continue as a separate business within the OW Bunker group, while at the same time benefiting from OW Bunker’s financial strength, scale of business, global network and risk management solutions, the company said.
It will be integrated as a fully owned subsidiary of OW Bunker as of 1st July, 2014.
It has also been reported that OW Bunker has reached a settlement with the owner of the VLCC -’Leo Glory’- owned by Gulf Marine Management, allowing the ship to be released from India, where it had been arrested, according to a report in TradeWinds.
A Gujarat High Court had ordered the ‘Leo Glory’ released some two months after its April arrest over a $2.28 mill debt for fuel supplied to the ship while she was on timecharter to Calypso Navigation of Panama.
OW Bunker had contended that Calypso Navigation and Gulf Marine are sister companies and that both owed the company money.
Details of the settlement were not available, TradeWinds reported.