ShippingWatch

Norden: Bunker fraud easily amounts to 3-4 percent

Bunker fraud is a serious problem, and shipping company Norden has seen cases where several percent of the bunker never reach the carrier's ships. A series of initiatives will minimize the fraud.

Shipping company Norden knows all about bunker fraud, and the carrier can name glaring examples in which the agreed amount of bunker never made it on board the ship. The extent of the fraud has decreased, but bunker fraud is still a problem on the global markets, with Singapore repeatedly mentioned as a key fraud location.

"We very much recognize the problem with bunker fraud in Singapore, and the sometimes quite creative setups in the bunker barges, clearly designed to alleviate fraud," Lars Lundegaard, Senior Vice President & Head of Technical Department at Norden, tells ShippingWatch.

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