NOVEMBER 29, 2013 — One of the world's largest suppliers of husbanding services —Inchcape Shipping Services Holding Ltd. (ISS) — has been suspended from doing business with the Navy.
ISS is owned by Istithmar PJSC, a subsidiary of Dubai World.
The news comes in the wake of the continuing probe into Glenn Defense Marine that has seen several arrests and the suspension earlier this month of two admirals (see earlier story) and came in the form of a November 27 announcement from Rear Admiral John F. Kirby, Navy Chief of Information:
"The Navy announced today it suspended Inchcape Shipping Services Holding Ltd. (ISS) and its affiliated companies from contracting with the Federal government on November 26, 2013. The suspension prevents Department of the Navy (DON) and all other Federal departments and agencies from entering into any new contracts, exercising options under existing contracts or issuing any new task or delivery orders under indefinite quantity contracts with ISS or its affiliates above the minimum guarantee during the period of suspension without agency head approval. ISS is a provider of husbanding services to the DON.
The DON Acquisition Integrity Office recommended ISS's suspension to the Suspension and Debarring Official (SDO), based upon evidence of conduct indicating questionable business integrity affecting ISS's present responsibility to be a Government contractor. The SDO's decision reinforces the high standards of conduct and business practices to which the DON holds contractors who desire to do business with the Federal government. It also reflects the mandate of the Secretary of the Navy, Ray Mabus, to ensure that DON contractors are fully compliant with contracting regulations and procedures."