Loans guarantee scandal escalates

The dominance of Maersk can be seen in figures released by Algeciras port authority covering January and February 2005 during which throughput at the port amounted to 501,514 TEUs.

Willem Scholten, former chief executive of the Port of Rotterdam, acted alone in guaranteeing loans totalling €80m more than originally thought. The guarantees were given to RDM to protect Rotterdam port interests in connection with the delivery of submarines, but Rotterdam municipal council had no knowledge of the loans. A spokesman for the port said he expected the case to reach court if and when banks called in the guarantees. An investigation has made it clear that the former boss acted outside his jurisdiction.