World News
Danish Prosecutor Seeks Two-Year Prison Sentence for Bunker Holding's Keld Demant
Prosecutors in Denmark seeking to prove a breach of EU sanctions in jet fuel trades conducted by Dan-Bunkering are calling for a two-year prison sentence for Bunker Holding CEO Keld Demant.
The prosecution stated their position during court proceedings in Odense on Tuesday, according to news agency Avisen Danmark. The prosecution is seeking the prison sentence for Demant and a fine of DKK 319 million ($48.7 million) for Dan-Bunkering -- half the value of the trades in question.
"Keld Demant is the locomotive driver," the prosecution said in closing remarks.
"It is he who has his foot on the brake."
The case, against Dan-Bunkering, its parent firm Bunker Holding and CEO Keld Demant, revolves around 33 jet fuel deals with Russian counterparties in 2015-2017 where the oil allegedly ended up in Syria in breach of EU sanctions.
The two companies and Demant deny the charges, and Bunker Holding has said its internal investigations have found no evidence of any employee having knowledge of sanctions breaches.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 634.00 | 10.50 | 747.00 | 35.00 |
| Rotterdam | 574.00 | 16.00 | 738.50 | 12.00 |
| Houston | 595.50 | 13.00 | 762.50 | 14.50 |
| Fujairah | 624.50 | 18.50 | 867.50 | 24.00 |
| Global 20 Ports Average | 645.00 | 13.50 | 832.00 | 16.50 |
| Global 4 Ports Average | 607.00 | 14.50 | 779.00 | 21.50 |
| Global Average Bunker Price | 707.50 | 5.50 | 892.00 | 2.00 |
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