Clarification on assertions made in Iceberg Research's report

In response to media queries on Iceberg Research's report on Noble Resources International Pte Ltd, the Maritime and Port Authority of Singapore (MPA) spokesperson said:

"In 2013, the Maritime and Port Authority of Singapore (MPA) received information on the conduct of Noble Resources International Pte Ltd (NRIPL). Our investigation of NRIPL however did not find any malpractices. MPA subsequently did not renew NRIPL's bunker supplier licence as it did not fulfil its licence commitments, such as meeting the required delivered volume and the number of bunker tankers deployed, and not for any breach of our regulations.

The assertion by Iceberg Research that "Had the MPA acted on the information sent to them, this high profile bankruptcy leaving hundreds of millions due to creditors unpaid could certainly have been avoided" is also untrue. No relevant information about OW Bunker, including from Iceberg Research, was furnished to the Singapore authorities before OW Bunker's bankruptcy."