OW Bunker Clamps Down on COSCO
- Business & Finance
US-based arms of Danish marine fuel supplier OW Bunker, filed suit before a South District court in New Jersey against China’s Cosco Piraeus boxship, operated by China Ocean Shipping Company (COSCO).
OW Bunker USA and OW Bunker North America filed the suit on January 6th.
OW Bunker subsidiaries are claiming payment of USD 934,227.26 from Chimbusco, COSCO’s American bunkering joint venture with China Marine Bunker Supply Co., due from last year.
Chimbusco entered into a contract with OW Far East for the sale, supply, and delivery of marine fuel oil to the Hong Kong-flagged Cosco Piraeus, to be delivered at the port of New York late last year where OW USA assumed role as the contract supplier of marine fuel oil.
However, despite the fuel being delivered, Chimbusco hasn’t paid the said amount.
OW USA and OW NA filed a Voluntary Petition under Chapter 11 for bankruptcy protection in the United States Bankruptcy Court for the District of Connecticut, on November 13, 2014.
World Maritime News Staff