World News
Singapore Supplier Sues GDMA Over Unpaid Bunker Bills
Glenn Defense Marine Asia Pte (GDMA), the Singapore-based contractor at the center of a bribery and fraud scandal with the U.S. Navy, has been sued for failing to pay a bill for bunker fuel, Bloomberg reports.
Transocean Oil Pte Ltd., which sells fuel to U.S., Japanese, and Singapore naval vessels, is seeking $879,000 plus interest over GDMA’s missed payments on a $2.2 million settlement agreement through a lawsuit filed at the Singapore High Court.
The court papers cite emails from GDMA Chief Executive Leonard Glenn Francis regarding the debt, which blamed U.S. government budget cuts and Navy schedule changes related to the conflict in Syria for delayed payments.
“My USN business is picking up and compounded with new revenue streams that are coming in,” he wrote to Transocean on May 17.
“You have my word that I have full intentions to clear these debts as soon as possible.”
Transocean is seeking an order for the sale of a GDMA vessel, Glenn Gladiator, which was arrested by the Singapore High Court on September 20, to pay off the debt.
Navy officers and CDMA officials including Francis have been arrested over the scandal, which involved the bribes paid by the company to get confidential information and other advantages in winning Navy contracts, and the U.S. has terminated contracts with the company worth $205 million.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 504.50 | 2.50 | 620.00 | 3.00 |
| Rotterdam | 456.00 | 1.50 | 621.50 | 2.00 |
| Houston | 476.00 | 7.00 | 624.00 | 1.00 |
| Fujairah | 496.50 | 2.00 | 713.00 | 2.50 |
| Global 20 Ports Average | 526.50 | 0.50 | 712.00 | 0.50 |
| Global 4 Ports Average | 483.00 | 2.00 | 644.50 | 0.50 |
| Global Average Bunker Price | 570.50 | 1.50 | 751.00 | 1.00 |
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