Tag: Russia

In this week’s “Shipping Number of the Week” from BIMCO, Chief Shipping Analyst, Niels Rasmussen, examines the rise in India’s seaborne crude oil imports from Russia and the impact it has on sailing distances and ship types.

According to Bloomberg, Russia has loaded a fourth sanctioned tanker, the Viktor Bakaev, owned by state-run Sovcomflot PJSC. 

Recent reports suggest that mysterious buyers with suspected Russian ties are acquiring numerous liquefied natural gas (LNG) vessels, potentially expanding Moscow's covert fleet of tankers.

According to UK, Russia’s ‘shadow fleet’ poses a threat to the nations and others who depend on the world’s seas and oceans. Many ships in this ‘shadow fleet’ are uninsured and poorly maintained. Many engage in activities which violate basic safety and environmental standards and regulations.

The EU Council adopted, in late June, the 14th package of economic and individual restrictive measures, designed to target high-value sectors of the Russian economy, like energy, finance and trade, and make it ever more difficult to circumvent EU sanctions.

Bloomberg reports that evidence suggests Russia is creating a shadow fleet for LNG, similar to its oil strategy to avoid sanctions.

Denmark is exploring options to prevent a fleet of tankers, known as a "shadow fleet," from transporting Russian oil through the Baltic Sea, the country announced on 17th June, Reuters highlights.

The UK has announced 50 new sanctions to undermine Russia's war capabilities, coordinated with G7 partners, to support Ukraine. These measures target ships in Russia's "shadow fleet," key financial institutions, and suppliers aiding Russia's military production.

The European Union is proposing to sanction Russia’s oil-shipping giant Sovcomflot PJSC in a move to limit the Kremlin’s ability to finance its war against Ukraine, according to a document seen by Bloomberg. 

Russia and China are collaborating to enhance the Northern Sea Route (NSR), aiming to increase Chinese transit to 50 million tons by 2030.