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Official: Bunker Holding, Keld R. Demant and Dan-Bunkering will not appeal verdict, says statement

Bunker Holding and Dan-Bunkering have decided not to appeal the city court ruling in the case where the companies were on trial for breaching EU sanctions against Syria, states USTC.




Bunker Holding Group

A/S United Shipping & Trading Company, the parent firm of group company Bunker Holding A/S, on Wednesday (29 December) released a statement indicating its decision not to appeal the verdict against its entities which were indicted of having breached EU sanctions in Syria:

In the judgement that was delivered on December 14th in the city court of Odense, the court found that Dan-Bunkering’s Russian branch should have known that the company’s Russian clients would likely use the fuel in violation of EU sanctions against Syria. The court also found that Bunker Holding and its CEO had acted with unintentional negligence in regard to trades made in the spring of 2017. The court did not find that the companies had acted with direct intent to violate EU sanctions or that Bunker Holding and its CEO had acted intentionally to breach EU sanctions.

Bunker Holding, Keld R. Demant and Dan-Bunkering acknowledge the decision of the court and have decided not to appeal the verdict.

Putting an end to a complicated case

“Through the entire case the companies have expected to be acquitted so we are surprised by the verdict. However, we have decided not to appeal the ruling because we want to put an end to the case. From the outset we have taken the accusations very seriously and we accept the outcome of the legal proceedings”, says Klaus Nyborg, vice chairman of the board of directors at Bunker Holding.

This is a very complicated case, which is also reflected in the fact that the judges were not able to reach consensus on Dan-Bunkering’s level of intent.

The judgement shows that it is no longer sufficient to screen trades against direct counterparties. Rather it points out the need to check your customers counterparts, even including several links downstream, in order to control the usage of the product being sold.

Comprehensive compliance system and procedures

Bunker Holding has traded in oil products to global customers for more than 40 years and is today the world’s largest bunker company. Since the company was founded, Bunker Holding and subsidiaries have operated in accordance with international sanctions and continuously expanded its capabilities as the requirements for sanctions compliance have increased. In the latter years the development and expansion of the company’s compliance system and procedures have been intensified significantly and Bunker Holding’s compliance system is today regarded among the best in the shipping industry.

The system checks more than 100,000 trades per year against international sanctions lists and media information while using Big Data and artificial intelligence to follow sailing patterns and the use of AIS trackers. Based on this, the system flags specific trades and can stop trades if it identifies unusual trading and payment patterns.

Since 2017 Bunker Holding has strengthened and centralised its global compliance team to ensure that the group’s compliance procedures function optimally. Bunker Holding has also further expanded its internal compliance training program for all employees in the group. Everyone undergoes annual mandatory training and newly hired traders must complete intensive onboarding training when joining the company. The compliance department also conducts training tailored for the specific needs of local offices based on their trading patterns and customers.

In the verdict, which is the first sanctions case brought against the company in its more than 40-years history, none of the counterparties that Dan-Bunkering were involved with has ever been on the EU’s sanctions list. As a result, the verdict highlights how difficult it has become to navigate international sanctions and underlines the importance of continuously improving internal training, systems and monitoring.

Strong support from customers and business partners also after the verdict

Bunker Holding and Dan-Bunkering have experienced continued strong and unchanged support from customers, suppliers, banks, and credit insurance companies as well as confidence in the compliance system and procedures that Bunker Holding has built over the years. The group’s compliance set-up is regularly evaluated and validated by external, international experts in the field.

Full trust in CEO

Contrary to Bunker Holding’s expectations, CEO Keld R. Demant received a suspended sentence for acting with unintentional negligence. The court did not find that he had acted with direct intent or intentionally had acted in breach of EU sanctions. Keld R. Demant accepts the verdict and has decided not to appeal.

“Keld R. Demant has the full and unchanged support of the board of directors and the ownership and will continue as the CEO of Bunker Holding”, says Klaus Nyborg. Torben Østergaard-Nielsen, chairman of the board of directors at Bunker Holding and co-owner of the company, also expresses his full support of Keld R. Demant.

We must learn from this case

For Torben Østergaard-Nielsen it is crucial that everyone within Bunker Holding learns from the case.

“It is a core value for me and the entire Bunker Holding group that we act with decency in everything we do. I regard this entire case and the fact that the court reached the conclusion that EU sanctions have been breached with the utmost gravity. This case simply does not reflect the values or the culture that we stand for and that we are known for. It has obviously been a serious matter for Dan-Bunkering and Bunker Holding, but certainly also for me personally. Bunker Holding is the world’s largest bunker company, and as such we have an obligation to take the lead in compliance and set the highest standards for ourselves to ensure that the company at all times abides by all trade sanctions”, says Torben Østergaard-Nielsen.

Note: Earlier Manifold Times coverage regarding Bunker Holding/Dan-Bunkering’s breaches of EU sanctions can be found below:

Related: Statement regarding the city court of Odense’s ruling against Dan-Bunkering, Bunker Holding and CEO
RelatedDan-Bunkering, Bunker Holding and CEO guilty of Syria sanctions violations; fined USD 5.17 million in total
RelatedDan-Bunkering trial: Defence lawyer pleads for full acquittal of clients in court
RelatedDan-Bunkering trial: Court denies request sending case to European Court of Justice
RelatedDan-Bunkering trial: Denmark also bombed Syria, confirms defence counsel
Related: Dan-Bunkering trial: Prosecutors question Bunker Holding CEO Keld Demant
Related: Dan-Bunkering trial: Prosecution examines revealing email to Group Directors
Related: Dan-Bunkering trial: Hearing resumes after accusation of impartiality
RelatedDan-Bunkering trial: Hearing temporarily suspended due to impartiality
Related: Prominent prosecutor to lead spectacular lawsuit against Dan-Bunkering
RelatedBunker Holding:  ‘No signs’ in alleged breach of EU sanctions post internal investigation
Related: Experts: Bunker Holding alleged jet fuel sale significant to outcome of Syrian War
Related: Bunker Holding ‘surprised’ at fuel sale charge; maintains ‘full confidence’ in Group CEO
Related: Danish prosecutor proposes jail sentence for Bunker Holding Group CEO over jet fuel sale
Related: Bunker Holding & Dan Bunkering allegedly charged over EU sanctions violations
Related: Dan Bunkering ‘surprised’ SØIK has pressed charges over alleged EU sanction violations
Related: Dan-Bunkering: Everything has been investigated – the case should be closed
Related: Name ban on parties involved with Dan-Bunkering Syrian jet fuel deal lifted
Related: Dan-Bunkering Middelfart office searched by commercial crimes police
Related: Firm linked to alleged Dan-Bunkering Syrian war activities under sanction
Related: Update: Dan-Bunkering Syria jet fuel supply ops allegedly longer than thought
Related: Dan-Bunkering faces preliminary charges by SOIK with violation of EU Syria sanctions
Related: Investigations on Dan-Bunkering over alleged Syrian jet fuel deal start
Related: Danske Bank casts doubts on Dan-Bunkering reason for Syria investigation
Related: Danske Bank reported Dan-Bunkering to police in EU sanctions case
Related: Bunker company acknowledges flawed statement in EU sanctions case
Related: Unioil Supply dragged into Dan-Bunkering sanctions allegations
Related: Dan-Bunkering has not violated EU’s sanctions against Syria, it insists
Related: Nordea highlights stance on compliance after Dan-Bunkering discovery
Related: Danish media alleges Dan-Bunkering jet fuel deliveries during Syria war


Photo credit: Bunker Holding
Published: 29 December, 2021

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PIL vessel in bio bunker fuel trial transports containers with PSA Singapore

Containers, bound for Mitsui Chemicals Asia Pacific’s beneficial cargo owner, were transported via PIL’s vessel “Kota Ratna” and PSA’s coastal terminal and rail nodes in Singapore, Qinzhou and Chongqing.





PIL transports containers using bio bunker fuel in trial with PSA Singapore

PSA Singapore (PSA) and Pacific International Lines (PIL) on Wednesday (29 May) announced the completion of their first trial of low-carbon green shipments, in a joint effort to build a more sustainable end-to-end supply chain ecosystem.

This pilot trial is part of the Memorandum of Understanding signed in October last year between the two long-standing partners to collaborate on green and sustainability solutions to decarbonise supply chains. 

The pilot consists of warehouse-to-warehouse cargo flow from Singapore to Chongqing via the International Land-Sea Trade Corridor. The containers, bound for Mitsui Chemicals Asia Pacific, Ltd’s beneficial cargo owner, were transported via PIL’s vessel Kota Ratna and PSA’s coastal terminal and rail nodes in Singapore, Qinzhou and Chongqing.

Green levers utilised in this pilot include the use of biofuel on Kota Ratna as well as landside supply chain optimisation by PSA.

The biofuel used for this trial, a blend of 24% used cooking oil with very low sulphur fuel oil, abated about 100 tonnes of carbon, equivalent to planting 4000 trees, and reduced the emissions of greenhouse gases (GHG) by 84.1%.

With first-hand data on carbon emissions obtained from this pilot trial, PIL will be better equipped to assess how it can further lower emissions from its vessel operations, not just for its existing ships but also for its eight new LNG dual-fuel container vessels that will be progressively delivered from end 2024.

The PSA Port Ecosystem Business Division leveraged container barging, a greener mode of transportation as compared to trucking, to haul cargo from PSA Jurong Island Terminal to Pasir Panjang Terminal for onward shipment towards Chongqing. 

In addition, the use of container handling equipment powered by electricity and greener alternative fuels at PSA’s ports reduced emissions in the port area.

The collaborative efforts by both partners across the end-to-end supply chain translated to planting one tree for every laden container moved across this value chain.

Philbert Chua, Managing Director, Container Division, PSA Corporation Ltd, said, “The successful completion of this green pilot project with PIL is an important step forward for the maritime and supply chain sector.”

“Combating climate change is one of our urgent priorities and PSA is committed to work with like-minded partners to put these words into action.”

“This concerted teamwork illustrates a step-by-step measurable approach to further decarbonise supply chains and has unlocked opportunities for accelerated action to achieve our net zero goal.”

Abhishek Chawla, Chief Marine Officer, PIL, said, “PIL is pleased to receive promising results from this low-carbon green shipments pilot trial with PSA.”

“With sustainability at the core of PIL’s operations, we are happy to join forces with PSA as we take concrete action to drive a sustainable future. The valuable insights obtained from this trial will empower PIL to further reduce our vessel emissions in the future, as part of our goal of achieving net zero by 2050.”

“Working hand in hand with like-minded partners, we can augment each other’s sustainability efforts in creating greener shipping and providing a sustainable net zero model to our customers soon.”


Photo credit: PSA Singapore
Published: 30 May 2024

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Alternative Fuels

China: Chimbusco, Suzhou Fengbei Biotechnology to conduct bio bunker fuel research

Both parties will comprehensively promote the use of biodiesel in the bunker fuel market and contribute to green and low-carbon shipping.





China: Chimbusco, Suzhou Fengbei Biotechnology to conduct bio bunker fuel research

China Marine Bunker (Petro China) Co., Ltd. (Chimbusco) and Suzhou Fengbei Biotechnology Co., Ltd. on Thursday (23 May) signed a strategic cooperation agreement to jointly carry out research on the application of marine biofuels and promote pilot projects on the application of biodiesel. 

Both parties will comprehensively promote the use of biodiesel in the bunker fuel market and contribute to green and low-carbon shipping.

Suzhou Fengbei Biotechnology Co., Ltd. has long been committed to the research and development of comprehensive utilisation of natural oil resources, forming an oil resource recycling industry chain of "industrial oils-biofuels (biodiesel)-biobased materials". 

Qin Ling, secretary of the Party Committee and general manager of Chimbusco said with the implementation of increasingly stringent emissions laws and regulations, the company is actively responding to and adapting to domestic development needs. 

“Through strategic cooperation, the company is locking in the future demand for biofuels,” he said. 

Pingyuan, chairman of Suzhou Fengbei Biotechnology Co., Ltd. said that both firms will rely on their respective advantages and resources and seize new opportunities for carbon reduction in shipping. 

Disclaimer: The above article published by Manifold Times was sourced from China’s domestic market through a local correspondent. While considerable efforts have been taken to verify its accuracy through a professional translator and processed from sources believed to be reliable, no warranty is made regarding the accuracy, completeness and reliability of any information.


Photo credit: Zhangjiagang Bonded Zone (Jingang sub-district) Party and Government Office
Published: 30 May 2024

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MOL to install wind propulsion system on seven newbuildings

MOL has measured the performance of the Wind Challenger on a vessel “Shofu Maru” continuously on actual voyages and confirmed Wind Challenger sail reduced daily fuel consumption by up to 17%.





MOL to install wind propulsion system on seven newbuildings

Mitsui O.S.K. Lines, Ltd. (MOL) and its group company MOL Drybulk Ltd. on Monday (27 May) announced their intent to install wind propulsion systems on a total of seven newbuilding bulk carriers and multi-purpose vessels, which will be operated by MOL Drybulk. 

MOL has measured the performance of the Wind Challenger on a vessel Shofu Maru continuously on actual voyages and confirmed that the Wind Challenger sail reduced daily fuel consumption by up to 17%.

The fuel saving and GHG reduction effect of the Wind Challenger depends on various conditions such as the type of vessel and the shipping route.

MOL Group will have a total of nine Wind Challenger-equipped vessels, bringing the total number of vessels equipped with wind propulsion systems to 11.

Among the seven vessels to be equipped with wind propulsion systems, six new bulk carriers will each be equipped with one Wind Challenger. Construction contracts have already been signed with Oshima Shipbuilding Co., Ltd. for three of the six vessels, and preparations are under way for construction contracts for the remaining three vessels.

In addition, MOL Drybulk has decided to install two Ventfoils, a foldable and autonomous unit for wind-assisted ship propulsion, manufactured by Dutch firm EconoWind B.V., on one of its new multipurpose vessels slated for delivery 2025 and operation under a time charter.

MOL has established the "MOL Group Environmental Vision 2.2" and has set the target of achieving net zero greenhouse gas (GHG) emissions by 2050. One of the key strategies to achieve this target includes the "introduction of clean energy, further energy-saving technologies," and the group plans to launch 25 vessels equipped with the Wind Challenger by 2030 and 80 vessels by 2035.


Photo credit: Mitsui O.S.K. Lines
Published: 30 May 2024

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