World News
US Navy Suspends ISS Contracts Over "Questionable Business Integrity"
The U.S. Navy said Wednesday it has suspended contracts with UK-headquartered Inchcape Shipping Services (ISS) over "questionable business integrity".
The contracts, which the Washington Post reports have been valued at some $240 million, were mostly for supplying ships in the Persian Gulf and elsewhere in the Middle East.
The statement by Rear Admiral John Kirby, the Navy's chief of Information, said the decision was "based upon evidence of conduct indicating questionable business integrity affecting ISS's present responsibility to be a Government contractor," but Kirby did not elaborate on specifics.
Reuters reports that another Navy official said ISS was suspended for failing to report credible evidence of significant contract overpayments.
The developments follow the recent cancellation of U.S. Navy contracts with Glen Defense Marine Asia Ltd (GDMA) over fraud and bribery.
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