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Tankers: Shell probing claims of unethical freight dealings in Singapore, say sources

Global energy major Shell is investigating claims of unethical dealings including charges of corruption in its tanker chartering team in Singapore and at least one employee has been asked to take leave pending further investigation, sources familiar with the developments have told S&P Global Platts. “It would not be appropriate to comment on personnel matters,” a Shell spokesperson told Platts. Shell is one of the largest oil and gas trading companies in the world and at any point in time, there are several ships moving cargoes belonging to the company across the globe. When the tankers on time charter are not required to carry Shell’s own cargo, they are relet to other companies. Shell employs freight traders for the juggling of this vast fleet, including both chartering and the relet of ships. “All Shell employees are required to comply with our Code of Conduct and to uphold the highest standards of ethical behavior,” the Shell spokesperson said in an email response to Platts’ queries. Breaches are not tolerated and carry serious consequences,” the Shell spokesperson said in the same email. According to sources familiar with the Shell episode, the role of one particular brokerage house has come into question because it was being allegedly favored by the employee in question without following due procedures. “We don’t share commercial information about our trading and operations activities,” the Shell spokesperson told Platts in response to a query on whether a tanker brokerage has been blacklisted by Shell. Thanks For Reading!

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Source:https://www.platts.com/