No disruption to S'pore's bunker supply and operations after OW Bunker's collapse: SSA

SINGAPORE - Singapore's bunker supply and bunkering operations have not witnessed any disruption following the collapse of a major player OW Bunker in Denmark, Singapore Shipping Association (SSA) said on Friday morning.

The industry body and the Maritime and Port Authority of Singapore (MPA) had held a dialogue with close to 50 companies on Thursday, to collate updates and discuss ways to minimise any impact on the local bunkering scene.

Companies were advised to carefully inspect their contractual obligations, and to work closely with their stakeholders to avoid or minimise disruption in their operations.

"The bunkering industry here is a well-regulated one. While I urge my members to seek professional and legal advice as necessary, I also hope that those affected by this event would remain calm and not resort to knee-jerk reactions which may rock the stability and reputation of Singapore's bunkering industry. My association will be working closely with MPA to ensure that there would not be any unnecessary disruption in bunker supply and operations here," said SSA President Mr Patrick Phoon.

MPA chief excutive Mr Andrew Tan said: "This has been a useful session for the shipping and bunkering community to come together to understand the current situation and to discuss practical steps forward. MPA will continue to work closely with SSA to manage the situation. We will also work with our licensed bunker suppliers to minimise any disruption to bunkering operations in Singapore."

The MPA had earlier said that it had not found any disruption to bunker operations in Singapore.

The Straits Times reported today that liquidation proceedings had begun at OW Bunker's Singapore unit.

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