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.
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Dry bulk carrier J. Lauritzen finished the third quarter with an operating deficit of USD 9.8 million. Positive with a better dry bulk market, but the carrier is still some way off from turning a profit, CEO Mads Zacho tells ShippingWatch.
On Monday, Denmark's Western High Court will issue its verdict in the protracted fraud case against Danish bunker company Monjasa and founder Jan Jacobsen. The appeal case brought new witnesses and evidence from the defense which maintains the innocence of its clients.
Denmark based product tanker carrier Hafnia Tankers booked red figures on the bottom line in the third quarter, much like many of its competitors. The carrier has now lost USD five million in the first nine months of 2017, but believes that better times lie ahead.