Word: soudan
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Dates: during 1980-1989
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...history. Shell International Trading, which had purchased the 194,000 tons of Kuwaiti oil aboard the Salem, has filed the largest cargo claim ever received at Lloyd's: $56.3 million. Shell has also filed a suit against the Salem's owner, a Lebanese-American shipper named Frederick Soudan, charging that he purposely ordered the ship sunk two weeks after 170,000 tons of its oil were secretly unloaded in South Africa. Because of the magnitude of the alleged fraud, Scotland Yard has entered the investigation, and as a Greek shipping executive in London observed last week...
About the time that Soudan was opening his shipping firm, a man calling himself Bert Stem-fortyish, with gray hair and a vaguely Germanic accent-appeared in Piraeus, Greece, to hire a crew capable of working a supertanker. The load was to be 194,000 tons of Kuwaiti oil, to be delivered in Genoa to an independent Italian oil company, Pontoil. On Nov. 30, the ship-Soudan's Salem-sailed for Kuwait and picked up the crude. After four days at sea, however, the cargo was sold to Shell in a normal spot-market transaction. Shell kept Genoa...
...Dakar, Georgoulis dismissed the suggestions of fraud as "complete lies." Last week Soudan was in Switzerland; he has pledged to furnish absolute proof of his innocence. South Africa's Minister of the Economy, Schalk van der Merwe, has insisted that his country's "hands are clean." Lloyd's, however, surmises that after buying the Salem's oil, South Africa then resold it, at a 10% increase, to Rhodesia...