The maritime bunker market is rife with fraudulent behavior. From short bunkering to water in fuel to intended collusion, these common, every day practices cost the industry billions each year.
One of the more common, and least technical, forms of bunker fraud is that of simply delivering less fuel than purchased as a result of collusion between the supplier or barge crew and the ship crew. In the infographic below, we take you through a scenario that demonstrates the financial impact of intended collusion.
Practices like this could involve an owner defrauding a charterer, the ship crew defrauding their owner, a charterer’s bunker buyer defrauding the charterer, or some combination of these scenarios.
The best way to avoid this type of collusion fraud is to leverage trusted maritime technology that provides a real-time view into the bunker supply chain — from origin to delivery.
We invite you to learn more about how this is possible in our whitepaper: The Cost of Fraud in the Maritime Fuel Market