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Dan-Bunkering, Bunker Holding and CEO guilty of Syria sanctions violations; fined USD 5.17 million in total

Dan-Bunkering was fined USD 4.56 million; Bunker Holding received a USD 610,000 penalty while its CEO Keld R Demant faces a conditional prison sentence of four months in prison, according to court judgement.

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Disclaimer: An online translation service was used in the production of the current editorial piece which is based from the Court of Odense’s judgement.

The Court in Odense on Tuesday (14 December) found Dan-Bunkering, Bunker Holding and its CEO guilty of sanctions violations where the parties negligently supplied a total of approximately 172,000 metric tonnes (mt) of jet fuel for use in Syria, according to the judgement seen by Manifold Times.

The violations specifically relate to eight trades of jet fuel that took place in the period between the period of February to May 2017.

Dan-Bunkering was found to had sold jet fuel to two Russian companies which were general agents for the Russian navy and conducted a total of 33 trades with deliveries to the eastern Mediterranean in the period between October 2015 to May 2017.

In all cases, the trades were concluded from Dan-Bunkering’s branch office in Kaliningrad, Russia.

A review of the trade documents, mails, unloading documents and AIS data proved the Russian companies, after receiving the jet fuel from Dan-Bunkering, had delivered the jet fuel in the Syrian port of Port Banias after which the jet fuel had been used by the Russian air force for military operations in Syria.

“The Court found that the deliveries objectively constituted infringements of EU sanctions,” stated the judgement.

Opinion of the judges at court

The majority of the judges found it was “overwhelmingly probable” that Dan-Bunkering must have realised the jet fuel would be used by the Russian military in Syria for all 33 trades, according to the judgement.

Further, since the trades were entered into by Russian employees at Dan-Bunkering’s branch office in Kaliningrad the staff must have been aware of the Russian intervention in Syria.

It was also emphasised the two Russian companies had not purchased jet fuel from Dan-Bunkering prior to October 2015; based on the amount of jet fuel delivered and on Dan-Bunkering’s knowledge that the two companies were general agents of the Russian fleet – the jet fuel should be used by the Russian military.

The minority at the court found that since one Russian company was sanctioned by the US authorities from September 2016, it was only after that date which Dan-Bunkering committed an intentional violation of EU sanctions.

The same group also agreed Dan-Bunkering negligently violated sanctions as the company should have realised the Russian companies supplied jet fuel for use in Syria which is in violation of EU sanctions.

Unanimously, the judges found Bunker Holding and Keld R. Demant to have contributed to a negligent violation of EU sanctions. Both should have stopped trading with the Russian company after the Danish Business Authority’s inquiry to Dan-Bunkering in December 2016, and after internal investigations by the group.

Prosecution and defence’s recommendations to the judge

The prosecution demanded Dan-Bunkering, Bunker Holding and its CEO be sentenced in accordance with the indictment.

They argued Dan-Bunkering should be fined DKK 319 million (USD 48.54 million) corresponding to approximately half of the amount for which jet fuel had been sold.

Bunker Holding should be fined DKK 81 million (USD 12.32 million) while its CEO Keld R. Demant should be punished with imprisonment for two years, according to principles related to the eight trades of jet fuel.

Lawyers representing the defendants maintained their claims of acquittal and argued a possible fine to the companies was to be calculated on the basis of the companies’ profits from the trades which amounted to less than 3%.

Court’s judgement

By the court’s judgment, Dan-Bunkering was fined DKK 30 million (USD 4.56 million), and Bunker Holding received a DKK 4 million (USD 610,000) fine.

Both fines are measured on the basis of the companies’ profits from the trades; the fine for Dan-Bunkering’s intentional violation of the rules is measured at approximately double the profit, while the fine for Bunker Holding’s negligent infringement is measured so that it roughly corresponds to the profit of the last eight trades of jet fuel.

CEO Keld R. Demant has been sentenced to four months in prison, which has been made conditional.

The court also emphasised, amongst other things, that Keld R. Demant is only punished for negligent violation of the sanctions.

In addition, Dan-Bunkering has confiscated the dividends from the traders which have been calculated by the court to be approximately DKK 15.65 million (USD 2.38 million).

Editor’s note: The judgement from the Court in Odense written in Danish can be found here.

Note: Earlier Manifold Times coverage regarding Bunker Holding/Dan-Bunkering’s alleged breaches of EU sanctions can be found below:

Related: Dan-Bunkering trial: Defence lawyer pleads for full acquittal of clients in court
RelatedDan-Bunkering trial: Court denies request sending case to European Court of Justice
RelatedDan-Bunkering trial: Denmark also bombed Syria, confirms defence counsel
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RelatedBunker Holding:  ‘No signs’ in alleged breach of EU sanctions post internal investigation
Related: Experts: Bunker Holding alleged jet fuel sale significant to outcome of Syrian War
Related: Bunker Holding ‘surprised’ at fuel sale charge; maintains ‘full confidence’ in Group CEO
Related: Danish prosecutor proposes jail sentence for Bunker Holding Group CEO over jet fuel sale
Related: Bunker Holding & Dan Bunkering allegedly charged over EU sanctions violations
Related: Dan Bunkering ‘surprised’ SØIK has pressed charges over alleged EU sanction violations
Related: Dan-Bunkering: Everything has been investigated – the case should be closed
Related: Name ban on parties involved with Dan-Bunkering Syrian jet fuel deal lifted
Related: Dan-Bunkering Middelfart office searched by commercial crimes police
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Related: Unioil Supply dragged into Dan-Bunkering sanctions allegations
Related: Dan-Bunkering has not violated EU’s sanctions against Syria, it insists
Related: Nordea highlights stance on compliance after Dan-Bunkering discovery
Related: Danish media alleges Dan-Bunkering jet fuel deliveries during Syria war

 

Photo credit: Sasun Bughdaryan on Unsplash
Published: 14 December, 2021

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Alternative Fuels

Yang Ming orders six LNG dual-fuel, ammonia-ready containerships from Hanwha Ocean

Each of the six new vessels will have a capacity of up to 13,650 TEU and feature LNG dual-fuel propulsion and Ammonia Fuel Ready specifications.

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Yang Ming orders six LNG dual-fuel, ammonia-ready containerships from Hanwha Ocean

Taiwanese shipping firm Yang Ming Marine Transport Corporation (Yang Ming) and South Korean shipbuilder Hanwha Ocean on Wednesday (2 September) signed a shipbuilding contract for six 13,000 TEU class LNG dual-fuel container vessels. 

The contract was signed by Dr. Chuck Tsai, Chairman of Yang Ming, and Mr. Charles Kim, CEO of Hanwha Ocean. The vessels are scheduled for delivery between 2028 and 2029. 

They will complement Yang Ming’s existing fleet of 10,000+ TEU vessels and serve as key vessels on East-West services, with deployment flexibility across trade lanes connecting Asia with the East and West Coasts of North America, South America, and the Mediterranean. 

Each of the six new vessels will have a capacity of up to 13,650 TEU and feature LNG dual-fuel propulsion and Ammonia Fuel Ready specifications.

“As Yang Ming transitions toward net-zero emissions, LNG provides a relatively mature and economically viable alternative fuel solution, capable of reducing greenhouse gas emissions by approximately 20%,” the company said. 

“At the same time, ammonia can serve as a carbon-free fuel by utilising converted LNG storage facilities, while offering relatively lower conversion costs and comparatively well-developed supply chains and infrastructure. The Ammonia Fuel Ready design will therefore provide Yang Ming with greater flexibility in responding to increasingly stringent international regulations on greenhouse gas emissions.”

In addition, the vessels will be equipped with Type B LNG fuel tanks with a design pressure of 1.0 bar to enhance the safety and efficiency of LNG operations, together with a range of energy-saving technologies, including Wind Shields, Rudder Bulbs, Pre-Swirl Stators, and Shore Power Systems. Smart ship technologies and cybersecurity protection features will also be incorporated to enhance operational efficiency, safety, and reliability while effectively reducing fuel consumption and greenhouse gas emissions.

Deliveries under Yang Ming’s next-generation fleet optimization plan commenced earlier this year. By 2030, a total of 24 new vessels are expected to enter service. 

This includes 18 LNG dual-fuel vessels—comprising five 15,500 TEU, seven 16,000 TEU, and the six 13,000 TEU vessels under this contract—alongside six 8,000 TEU methanol dual-fuel-ready ships. 

 

Photo credit: Yang Ming Marine Transport
Published: 4 September, 2026

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Alternative Fuels

LR, China’s MARIC unveil tanker concept ready for three future bunker fuels

Both secured AiP for a new 114,000 DWT product and crude oil tanker designed to accommodate future conversion to LNG, methanol or ammonia.

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LR, China’s MARIC unveil tanker concept ready for three future bunker fuels

Lloyd’s Register (LR) and the Marine Design and Research Institute of China (MARIC) on Thursday (3 September) have secured Approval in Principle (AiP) for a new 114,000 DWT product and crude oil tanker designed to accommodate future conversion to LNG, methanol or ammonia.

Announced at SMM 2026, the concept addresses one of the biggest investment challenges facing shipping today: the need to develop vessels and capabilities that can support a range of alternative fuel options and pathways as technologies, infrastructure and regulations evolve.

While LNG is already a mature fuel pathway, methanol and ammonia remain at an earlier stage of development, with questions around global fuel availability, infrastructure development, economics and long-term adoption.

The 114,000 DWT tanker concept has been designed as a product and crude oil carrier that can accommodate future conversion to LNG, methanol or ammonia as technologies, regulations and fuel supply chains mature. By incorporating conversion readiness at the design stage, the concept aims to reduce future retrofit complexity and provide owners with greater confidence when planning long-term fleet investments.

The design concept was reviewed against LR’s July 2026 class rules and regulations, including requirements relating to ships using gases and other low-flashpoint fuels, alongside relevant IACS Common Structural Rules for oil tankers. Final classification and statutory approval remain subject to full compliance with all applicable rules and regulations.

Theo Kourmpelis, Global Business Director for Tankers, Lloyd’s Register, said: “Shipowners are being asked to make major investment decisions today despite continued uncertainty around which fuels will dominate in the decades ahead. Alternative fuel solutions each offer potential pathways to compliance, but fuel infrastructure, regulation and economics continue to evolve at different speeds around the world.

“Designs that preserve flexibility will be critical in helping owners manage risk while preparing for multiple future scenarios.”

Si Nan, Marine & Offshore Marketing Department Vice Director, MARIC, said: “As the industry explores different decarbonisation pathways, shipowners need vessel designs that can adapt alongside technological and regulatory developments. This concept was developed specifically to provide greater fuel flexibility and long-term resilience, allowing owners to respond to changing market requirements without being locked into a single fuel strategy.

“Receiving Approval in Principle from Lloyd’s Register is an important milestone that validates the design concept and supports its future development.”

 

Photo credit: Lloyd’s Register
Published: 4 September, 2026

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Alternative Fuels

DNV: Alternative-fuelled vessel orders hit highest monthly level since October 2024

LNG-fuelled vessels accounted for the vast majority of August activity while the strong summer performance marked a significant acceleration in ordering activity after a relatively slow start to the year.

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DNV: Alternative-fuelled vessel orders hit highest monthly level since October 2024

Latest data from classification society DNV’s Alternative Fuels Insight (AFI) platform alternative-fuelled vessel ordering was strong in August, with 52 new vessels added to the platform.

This is the highest monthly total since October 2024 and follows another active month in July, when 47 vessels were added to the database.

LNG-fuelled vessels accounted for the vast majority of August activity, with 46 orders recorded. The container segment led the way with 30 orders, while the car carrier segment contributed a further 12 LNG-fuelled vessels. In addition, four ethanol-fuelled bulk carriers and two hydrogen-powered bulk carriers were added during the month, as well as one LNG bunker vessel.

The strong summer performance marked a significant acceleration in ordering activity after a relatively slow start to the year. In total, 242 alternative-fuelled vessel orders have been placed in the first eight months of 2026, representing a 27% increase compared with the same period in 2025.

LNG remains the dominant fuel choice, accounting for 63% of all alternative-fuelled vessel orders registered so far this year. Container vessels represent the largest share of these LNG orders (59%), followed by car carriers (30%).

Jason Stefanatos, Global Decarbonization Director at DNV Maritime, said: “The past two months have been particularly strong for alternative-fuelled vessel ordering, with August recording the highest monthly total we’ve seen since October 2024. This has helped lift year-to-date orders to a level well above the same period last year.

“LNG remains the leading fuel choice, driven largely by activity in the container and car carrier segments. These sectors have been among the earliest adopters of alternative fuels, supported by predictable liner operations and increasing demand from cargo owners to reduce emissions across supply chains. 

“For many owners, LNG offers a combination of emissions reductions, fuel availability and future flexibility while the longer-term fuel landscape continues to evolve. 

“At the same time, the latest figures include orders for ethanol- and hydrogen-fuelled vessels, highlighting that owners continue to explore a range of decarbonization pathways. Different segments are making different fuel choices, but the overall level of activity demonstrates continued investment in lower-emission shipping.”

Screenshot 2026 09 04 at 12.29.26 PM Screenshot 2026 09 04 at 12.29.36 PM

 

Photo credit: DNV
Published: 4 September, 2026

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