O.W. Bunker selects $9.53 million Aegean Bunkering bid for oil sale

By Kali Hays

New York, Dec. 5 – O.W. Bunker North America Inc. selected Aegean Bunkering (USA) LLC as the highest and best bid for its oil assets stored in Wilmington, Calif., with an offer of $9.53 million, according to a notice with the U.S. Bankruptcy Court for the District of Connecticut.

The offer includes the purchase of all of the stored oil and the lease of the storage terminal with Vopak Terminal Los Angeles Inc.

As previously reported, O.W. Bunker has more than 27,000 metric tons of various grades of oil stored at the Vopak terminal, and smaller quantities are on a vessel or vessels in the Los Angeles area.

The designated back-up bid is a combined bid of Aegean and Glencore LTD.

A hearing to approve the sale was set to take place Friday.

O.W. Bunker is an independent distributor and reseller of marine fuel and is based in Denmark. Its U.S. subsidiaries filed bankruptcy on Nov. 13 under Chapter 11 case number 14-51720.

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