Shipowners and operators including BW LPG, Latsco Shipping and Archer Daniels Midland face an uncertain payback on their investment in ballast water management systems (BWMS) after a leading manufacturer filed for bankruptcy.
OceanSaver filed a petition to liquidate with Norway’s Register of Bankruptcies last week, shortly after losing an arbitration fight against a supplier over claims of defective parts.
The company is said to be exploring a sale, according to one person familiar with the company.
