OW Bunker Bankruptcy has ‘Limited Impact’ on Monjasa

Though OW Bunker’s collapse has varyingly affected many companies around the globe, Danish bunker fuel provider Monjasa A/S said in a statement that the news holds an “insignificant commercial impact” for its business as the company has had only limited financial exposure towards OW Bunker.

“For Monjasa, the events have only very limited commercial effect. In our view, the worldwide bunker market should not experience any long-term problems absorbing the demand . . . We have experienced a slight increase in number of inquiries and orders, and noted a marginally higher interest in our vacant job positions around the globe,” the company said.

Denmark’s OW Bunker announced bankruptcy in early November amid fraud allegations at its Singapore trading unit and mounting losses.
“Monjasa will not be taking part in the ongoing speculations regarding the events, which led to the filed bankruptcy of OW Bunker. Instead, we keep focus on developing our own business,” the company said. “All relations to banks, suppliers, clients, insurance companies and other business partners remain strong and unchanged.”

“Looking ahead, the entire bunkering industry must learn from these events and use them constructively to come out stronger than before,” Monjasa concluded.