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Former Monjasa executive lashes out at key witness

A former head of sales lashed out fiercely at the Danish Financial Police's key witness in the case against Monjasa. He denied having made a call that convinced the witness that fraud was taking place at the bunker company.

Correction: Bunker companies leaving Singapore

This is a new version replacing the original article about the bunker industry in Singapore in the wake of the introduction of flow meters January 1 this year. It is stressed that commercial reasons are behind bunker company Aegean's decision to exit the port as physical supplier, and that it cannot be linked to the struggle against bunker fraud. ShippingWatch apologizes to Aegean and our readers for the misunderstandings the original article may have caused.

Prosecutor wants tougher verdict for Monjasa

The prosecutor in the criminal case against bunker company Monjasa and founder Jan Jacobsen is aiming for a tougher verdict at Denmark's Western High Court. The defense, which is looking to clear the charges, has summoned new witnesses, including two Danish bunker profiles.

Defense calls on new witnesses in Monjasa case

The defense has called on a hitherto unknown bunker executive as well as as a former employee of a controversial tax shelter company in the appeal case against bunker company Monjasa. Founder Jan Jacobsen found the witnesses and procured new documents in the case.

Maersk: Scrubbers are costly and allow for cheating

Maersk sees many good reasons for not using scrubbers as the way to comply with the approaching global sulfur directive. Poor economy and a risk of cheating are just two such reasons, says Marc Refsø Holm, Leader of the US Fuel Desk at Maersk Oil Trading.

Bunker Holding reports ready for global emissions cap

Even though Bunker Holding is still calling for some indicators of direction from the sector in light of the 2020 global sulfur cap, the bunker supplier is ready to supply four products, Peter Zachariassen, the company's head of physical, tells ShippingWatch.

IBIA pleased with penalty for bunker company in Singapore

The International Bunker Industry Association praises the Maritime and Port Authority of Singapore for suspending violators from the major bunkering port, and the association is working with Singaporean players to close loopholes associated with bunker fraud.

New Dan-Bunkering CEO: We need to grow at least 10 pct

Dan-Bunkering has in the past year streamlined its organization and laid off people. Not there is room to strengthen the core business, and also consider new areas, the company's CEO since May this year, Christoffer Berg Lassen, tells ShippingWatch.

Endofa delivers first-ever profit

Bunker company Endofa has positive figures on its bottom line for the first time since the company was founded by three Monjasa breakaways and Kenn Søndergaard in late 2012. Revenue grew by more than DKK 100 million.

Monjasa-founder received severance pay following conviction

Monjasa founder and co-owner Jan Jacobsen received a two-year salary in severance pay when he stepped down from the bunker group after he was convicted of fraud last year. This is a regular termination period, Monjasa tells ShippingWatch, noting that the sentence has been appealed.

Monjasa has shut down London oil venture

Bunker group Monjasa has halted its ambitions in shipping larger oil cargoes, a venture which was launched two years ago. An office in London dedicated this venture has been shut down. We want to focus on our core business, the group's COO tells ShippingWatch.

SeaIntel: Higher oil prices a boon to Suez

When the oil price was at its lowest, it paid off for many carriers to once again sail south of Africa instead of using the Suez Canal. According to SeaIntel, this has changed as the oil price has increased.

Danish businessman at the center of controversial oil trade in West Africa

What at first looked like an ordinary oil trade in West Africa has developed into a court dispute in London, Dubai, and Lagos. ShippingWatch has reconstructed the events which involve Danish businessman Jesper Øhlenschlæger, tax shelter company Nordic Oil & Gas, bunker company Endofa, and tanker carrier d'Amico International Shipping.

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