An armada of old tanker ships has sprung up to move sanctioned Russian and Iranian oil, putting sailors in peril and threatening environmental catastrophes. The Gabonese ship registry has ballooned to hold more than 100 tankers, according to ship brokers and owners, and an official at an established rival registry. Lloyd’s List Intelligence estimates more than 70 of those vessels have obscure ownership and form part of a shadow fleet of tankers dedicated to sanctioned oil trades. The shift took off last year, when Russia’s tanker fleet needed new flags to skirt U.S. sanctions enforcers. Representatives for the Gabonese ship registry and Intershipping Services didn’t respond to requests for comment.

Source: Wall Street Journal June 11, 2024 11:57 UTC