MPA refutes Iceberg claims

Singapore

THE Maritime and Port Authority (MPA) has come out to say that some of research outfit Iceberg Research's claims about commodities trader Noble Group are untrue.

Iceberg last week claimed in its third report attacking Noble that a member of Iceberg had in 2013 "reported Noble's commercial practices in Singapore" to the MPA. It alleged that "Noble had been associated with some less than reputable local companies", that "the decision was taken by MPA not to renew (Noble's bunkering) licence" and that these unnamed "local companies" were later "directly responsible for the fraudulent bankruptcy" of Danish bunker supplier OW Bunker in 2014.