OW Tanker will now be run by Alba Tanker, Reuters reported.

The company’s fleet manager Henrik Pedersen said the takeover is part of the process of securing assets for the estate.

"We are not a very big part of the company," Pedersen said. "We're the ship-owning part of OW Bunker and Trading. And that was our biggest client, of course, but we have always been run as a separate company."

OW