Case review: OW Bunkers – the story so far

The collapse of OW Bunkers in late 2014 shocked the bunker supplying world and caused significant litigation in courts around the world. Events thus far highlight that the same or very similar facts will be handled very differently by different courts.

By now, the most prominent case arising from the insolvency, PST Energy 7 Shipping LLC v OW Bunker Malta Ltd (The Res Cogitans) [2015] EWCA Civ 1058, is well known to most shipping and trade lawyers. In brief, bunkers were supplied to the vessel Res Cogitans by Rosneft through OW Bunkers. No payment was made for the bunkers either by the owners of the vessel to OW Bunkers or by OW Bunkers to Rosneft.