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Bunker Holding ‘surprised’ at fuel sale charge; maintains ‘full confidence’ in Group CEO

20 Nov 2020

Danish company Bunker Holding on Thursday (19 November) issued an official response to Singapore bunker publication Manifold Times in regard to Danish state prosecutor pressing for custodial sentence for its group CEO Keld R. Demant over alleged EU sanction breaches.

The state public prosecutor accused Bunker Holding and Demant for participating in the trades despite Demant having a “certain presumption” that the jet fuel would be going to Syria. 

The statement from Bunker Holding in its entirety is as follows: 

We consider the charges against Keld R. Demant solely as a consequence of his function as overall responsible for Bunker Holding and as Chairman of the Board for Dan-Bunkering. Keld R. Demant has not been involved in the trades in question and therefore he cannot be held responsible for them. Furthermore, we firmly believe that the company has not violated any EU-sanctions.

We have reviewed all the material in the case and we are surprised that formal charges have been pressed against the company in this case, particularly against Keld R. Demant.

Though we would have preferred that the case had not come to this, we look forward to a fair and impartial ruling. The company continues to have full confidence in Keld R. Demant in his role as CEO of Bunker Holding and Chairman of the Board at Dan-Bunkering.

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Photo credit: Bunker Holding AS
Published: 20 November, 2020

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