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Dan-Bunkering trial: Prosecutors question Bunker Holding CEO Keld Demant

Secret wiretaps reveal mail warning ‘overwhelming probability’ of jet fuel ending up in Syria was omitted during internal investigations of Dan-Bunkering.

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Disclaimer: An online translation service was used in the production of the current editorial piece, which Manifold Times had reproduction permission from Danish Radio (DR).

The seventh day of the Dan-Bunkering trial, regarding alleged violations of EU Syria sanctions, took place on Tuesday (9 November) at the High Court in Odense, according to DR.

The day’s main activity revolved around prosecutors questioning Keld Demant, CEO of Bunker Holding and Chairman of the board at Dan-Bunkering. Keld Demant has been charged in the case against Dan-Bunkering for breach of the EU sanctions, and the prosecution is demanding that he be sentenced to prison.

During the interrogation, Senior Prosecutor Andreas Laursen focused on a number of pieces of information that had reached the top director. It was information that the prosecutor believed warned the director Dan-Bunkering was involved in – or could be involved in – illegal deliveries of jet fuel to Syria.

Keld Demant did not investigate inquiries himself, but trusted the employees

In Christmas 2016, Dan-Bunkering received an inquiry from the Danish Business Authority. The agency, which monitors whether Danish companies comply with sanctions, directly asked Dan-Bunkering if the company was in the process of supplying jet fuel as it will be in breach of sanctions if the product ended in Syria.

The inquiry went on to Bunker Holding CEO, Keld Demant, who believed he did exactly what he was supposed to do. 

  •         Keld Demant: I have asked my people to investigate the matter and respond the authorities at the agreed time correctly and accurately

The internal investigation in Dan-Bunkering showed the company supplied jet fuel to two Russian companies and that it was delivered to ports in the Mediterranean. At the time, Russian bombers were carrying out attacks in Syria, the prosecutor said during the interrogation.

  •         Andreas Laursen: Do you not relate to the content of the case? 

Keld Demant did not.

  •         Keld Demant: I have 100% confidence in the people who work with it. Trust cannot be graded. That’s 100%.

According to Keld Demant, no one in the company was in doubt that the legislation should always be followed. And he was convinced his employees took care of that, also in the case of jet fuel.

  •         Keld Demant: It was a serious case and it was also taken seriously.

Mail on jet fuel to Syria

At the end of January 2017, Dan-Bunkering wrote in a reply to the Danish Business Authority that there was no indication the company was supplying jet fuel that ended up in Syria.

Shortly after, Dan-Bunkering would resume deliveries of jet fuel to the Russian customer.

But a legal adviser in the group, Casper Dybdal, warned about this in an email to which the prosecutors returned to repeatedly in the trial.

In the email to Keld Demant and three other directors, the adviser wrote that “we have now been made aware that the product will most likely end up in Syria. What is your take on it?”

In court, the prosecutor asked Keld Demant how he responded to the email. The response from the CEO was that he had been told by his people that they had investigated the matter and that nothing was wrong. 

Deliveries of jet fuel continued in the following months after Dan-Bunkering introduced a clause in the agreements with the Russian customer that there must be no breach of sanctions. But the consequences of continuing deliveries were not taken into account by Bunker Holding’s CEO.

  •         Andreas Laursen: When you think about the consequence of making a wrong decision and violating sanctions, then that decision should not be around you? 
  •         Keld Demant: On the basis of all the information that has come and that the case has been thoroughly investigated and a lot of energy has been used to find out what is up and down, so no.

Keld Demant also stressed that he leads a very large group with over 50 subsidiaries, and all employees of Bunker Holding have undergone a module regarding sanctions compliance. Further, Keld Demant said he has never been involved in individual trades.

Mail with warning omitted by internal investigation

The two senior plaintiffs in the case had said in advance that during the interrogation of the top director, they would play audio clips from secret wiretaps made by the Special Economic and International Crime (SØIK) police.

The wiretaps took place in the fall of 2019 around the time SØIK conducted a search of Dan-Bunkering’s headquarters.

In court, the prosecutors played a short clip from a telephone conversation between Keld Demant and his then personal assistant, who is also the daughter of the group’s owner, Torben Østergaard-Nielsen. 

In the conversation, Keld Demant talks about some emails that he has reviewed with the group’s legal adviser, Casper Dybdal, and that they agreed that those emails “should stay there”.

The prosecutor wanted to know what it was all about and Keld Demant explained it was about the mail that had previously been presented in court. In the email, Casper Dybdal wrote Dan-Bunkering has been made aware the jet fuel has an “overwhelming probability” of ending up in Syria.

That email should not be part of an internal investigation launched by the case, Keld Demant said in court. That was what he told his assistant in the intercepted phone call, because she was nervous that the legal adviser would be personally offended by it.

  •         Keld Demant: The email has no bearing on the case, so it should not be included in the investigation.
  •         Prosecutor: Where should the email be? 
  •         Keld Demant: Now I answer in the same way. It should not be included in the investigation.

Keld Demant explained the internal investigation of Dan-Bunkering was launched after SØIK charged the company in September 2019.

  •         Keld Demant: The result of the internal investigation is that Dan-Bunkering and Bunker Holding have not done anything wrong.

The trial is set to continue next week, and a verdict is expected before Christmas.

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

Related: Dan-Bunkering trial: Prosecution examines revealing email to Group Directors
Related: Dan-Bunkering trial: Hearing resumes after accusation of impartiality
Related: Dan-Bunkering trial: Hearing temporarily suspended due to impartiality
Related: Prominent prosecutor to lead spectacular lawsuit against Dan-Bunkering
Related: Bunker 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
Related: Firm linked to alleged Dan-Bunkering Syrian war activities under sanction
Related: Update: Dan-Bunkering Syria jet fuel supply ops allegedly longer than thought
Related: Dan-Bunkering faces preliminary charges by SOIK with violation of EU Syria sanctions
Related: Investigations on Dan-Bunkering over alleged Syrian jet fuel deal start
Related: Danske Bank casts doubts on Dan-Bunkering reason for Syria investigation
Related: Danske Bank reported Dan-Bunkering to police in EU sanctions case
Related: Bunker company acknowledges flawed statement in EU sanctions case
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: Bunker Holding
Source: DR
Published: 11 November, 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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