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Did APM Terminals' HQ sanction Pipavav deals?

How much did the compliance division in the Hague know about the deals that led to the dramatic dismissal of three senior executives at APM Terminals. ShippingWatch's sources inform that the Hague had cleared the deals in the Indian port Pipavav.

Photo: APM Terminals

When APM Terminals last week decided to dismiss three senior executives, the way the events unfolded were unusually dramatic, several sources tell ShippingWatch while also confirming that seedy developments in the company's Indian business resulted in the dismissals.

One of the three executives was allegedly pulled out of a seminar at one of New York's prestigious business schools before being told to immediately pack up his things and step down from his position. According to ShippingWatch's sources, he - like the other two executives, including APM Terminals' CFO Christian Møller Laursen - was very surprised by the news, as the Indian deals to them represented business as usual - and the deals had allegedly been cleared by the company's headquarters in the Hague.

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