Global Marine Fuel Company collapses

SINGAPORE, Nov 14 (Reuters) – The collapse of OW Bunker in the wake of an alleged fraud at its Singapore trading unit will shake up the city state's more than $25 billion marine fuel market, the world's largest, as major companies expand and small ones shrink amid a credit squeeze.

OW Bunker, a leading supplier of marine fuel oil known as “bunker”, filed for bankruptcy in Denmark a week ago after it revealed losses of at least $125 million at Dynamic Oil Trading, prompting banks to refuse to provide new credit lines.

In a market that relies heavily on open credit, traders fear the incident could create a domino effect, pulling more companies down with it

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