Polar Air Cargo fraud scandal: forwarder set to change plea to guilty
A second executive accused of conspiracy and being part of the Polar Air Cargo fraud ...
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Fraud and “inadequate supply chain practices” over the past year resulted in around 600 ships losing propulsion or being disabled due to bad fuel.
This has cost shipowners and fuel suppliers around $5bn, according to FuelTrust.
The fuel testing firm found that 39% of global bunker fuel has “quality discrepancies”, which it said indicated extensive fraud. And said there was concern for the future as the industry transitions to more expensive and greener energy.
The incidents are widespread, including fuel contamination at the ...
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