Sanctions, the shadow fleet, and the many ways authorities are trying to clamp down on this illicit trade kept Splash reporters busy all week, with clear evidence that the dark fleet is growing quicker than the West can contain. 

The grey fleet – as tracked by broker BRS – has been growing by 30 vessels per month this year, even as Western authorities unleash the most aggressive sanctions seen for many years. The Splash chart below highlights how shadow fleet growth is outstripping Western containment actions.

US president Donald Trump signed an order imposing an additional 25% tariff on goods from India, in response to the country’s continued imports of Russian energy, the White House said on Wednesday, a move that could reshape the global tanker trades. 

“Buyers and sellers are likely to find ways to circumvent the new rules and may increasingly go dark with their trading practices to ensure cargoes find a way to the market,” broker Gibson suggested. 

In its most firm action to date to counter dark fleet registrations, the Panamanian Ship Registry, the world’s second-largest flag, announced it will no longer accept tankers or bulk carriers aged more than 15 years old. It has has become the first flag in the world to implement stricter controls and mandatory traceability for offshore ship-to-ship (STS) transfers of hydrocarbons, while also axing many sanctioned vessels from its books. 

Norway, meanwhile, followed the lead taken by many European neighbours in announcing it will require foreign-flagged tankers operating within the country’s economic zone to disclose their insurance arrangements starting August 11.

Data from S&P Global Market Intelligence at the start of the year showed that more than 80% of the shadow fleet does not have confirmed insurance. 

Just what was going to happen to shadow tankers heading for scrap has been a big talking point all year. A court in Gujarat has given shipping an indication with news this week of the arrest of the Conico Atlas, a shadow aframax tanker sold for scrap.

Finally, this week saw the Maritime CEO brand return with a weekly big interview with shipping leaders, returning to its roots, to Hong Kong and the Wan Chai headquarters of Caravel, a major trader and parent of the world’s second-largest shipmanager, Fleet Management. It was 12 years ago that Maritime CEO launched as a magazine with an exclusive interview with Harry Banga – this week’s relaunch saw us meet up once again with one of the great names in world shipping. 

“Those who can align business processes with intelligent systems — and train their people to work with AI — will emerge as leaders,” Harry told us.

To listen further about all things shadow fleet, check out the latest Splash Wrap podcast below.