Press release


Statement related to recent press statements on SwissMarine and some of its Shareholders:

SwissMarine Corporation Ltd (“SMC”) is a dry bulk operator established in 2001. Through Sidhalu SA, Glencore PLC (“Glencore”) is one of SMC’s corporate shareholders and currently owns a 38.76 % economic interest in the company. Glencore does not have a controlling interest over SMC. SMC’s business is handled by its own management team and complies with all money laundering and sanctions regulations. SMC has always provided full disclosure of its corporate structure, shareholding and Board composition in response to compliance and KYC due diligence requests from Banks, Financial Institutions and any relevant counterparty.

Recent press reports on the activities of certain shareholders of SMC as allegedly breaching money laundering and sanctions regulations, do not concern the business activities of SMC or SwissMarine. Any queries on such matters should be addressed to the relevant corporate shareholder.

As a dry bulk freight operator only, since its inception SMC trades worldwide, primarily in the iron ore and coal sectors. SMC has never performed any banned/sanctioned trade on behalf of its clients, to include any banned or sanctioned trade to Iran.