WataruTenkawa on Nostr: Ever since Russia invaded Ukraine, a steady stream of such rickety vessels without ...
Ever since Russia invaded Ukraine, a steady stream of such rickety vessels without insurance protection have been joining the dark fleet (as the vessels are also known) — and many of them have been having accidents. This situation poses enormous risks to law-abiding ships, the environment and the unfortunate countries controlling the waters in which these accidents occur.
Because Western sanctions have banned trading a wide range of Russian goods and put a cap on the price of Russian oil, Western insurers — who dominate the market — no longer insure such shipments. Thus, companies that still want to engage in this lucrative trade have been turning to shadow vessels instead — ageing ships with obscure ownership that lack international certification and Western insurance.
https://www.politico.eu/article/russia-shadow-fleet-oil-tankers-ships-accidents-ukraine-war-sanctions/?utm_source=RSS_Feed&utm_medium=RSS&utm_campaign=RSS_Syndication
Because Western sanctions have banned trading a wide range of Russian goods and put a cap on the price of Russian oil, Western insurers — who dominate the market — no longer insure such shipments. Thus, companies that still want to engage in this lucrative trade have been turning to shadow vessels instead — ageing ships with obscure ownership that lack international certification and Western insurance.
https://www.politico.eu/article/russia-shadow-fleet-oil-tankers-ships-accidents-ukraine-war-sanctions/?utm_source=RSS_Feed&utm_medium=RSS&utm_campaign=RSS_Syndication