O.W. Bunker receives five qualified bids for Vopak oil, related assets

By Caroline Salls

Pittsburgh, Dec. 3 – O.W. Bunker Holding North America Inc. received five qualified bids for the sale of its oil stored at Vopak Terminal Los Angeles Inc.’s terminal and related assets, according to filings with the U.S. Bankruptcy Court for the District of Connecticut.

Specifically, Aegean Bunkering (USA), LLC submitted a $9.53 million total bid for all of the stored oil and the terminal lease; Chevron Marine Product LLC submitted a bid for four products, with prices per metric ton ranging from $310 to $520; Phillips 66 Co. submitted bids for set quantities of two products, with prices of $315 per metric ton and $335 per metric ton; and Trafigura AG Branch Office Houston submitted a bid for four products, with the total price to be determined.

O.W. Bunker said Trafigura submitted an indexed bid, but it will need to submit a fixed-price bid at auction.

On Wednesday, the company announced that it had received an additional qualified bid from Glencore Ltd. Glencore is offering to buy four products, with the bid amounts ranging from $315 per metric ton to $520 per metric ton.

The auction is scheduled for Dec. 4.

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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