13-06-2018

Former OW Bunker manager appeals 18-month jail term

The former manager of marine fuel supplier OW Bunker’s Singapore subsidiary said on Tuesday he would appeal the 18-month jail term he was sentenced to last month, his lawyer told Reuters.

On May 30, a Danish city court found Lars Moller, former head of Dynamic Oil Trading in Singapore, guilty of granting credit outside his mandate, contributing to OW Bunker’s bankruptcy.

Moller’s defence lawyer said on Tuesday, that they would appeal the verdict and aimed for him to be “fully acquitted”.

The 2014 bankruptcy of the firm, then the world’s leading supplier of bunker fuel with a 7 percent market share, sent shockwaves through the global shipping industry and left investors and business partners scrambling to cover their losses.

Source: Reuters

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