Unseen Ships: The Growing Shadow Fleet and Its Global Impact

The world is facing a new challenge: a secret fleet of ships, often old and poorly maintained, is being used to move oil and other goods while avoiding sanctions. This fleet, known as the "shadow fleet, " is growing rapidly, especially after Russia's invasion of Ukraine in 2022. It now includes around 900 to 1, 200 vessels worldwide. These ships are not new, but their numbers have surged due to the need to bypass sanctions imposed on countries like Russia, Iran, and Venezuela. The fleet is a mix of old tankers bought secondhand, owned by companies willing to engage in questionable activities. They often fly flags from countries with lax regulations or use fake registrations to hide their true owners. The shadow fleet has created a network of illicit activities, including fake flag registration websites, unscrupulous brokers, and companies that facilitate illegal trade. For example, the tanker Boracay was intercepted by Estonia and France earlier this year. It was owned by a so-called "brass plate" company in Seychelles and was blacklisted by the UK and EU for suspected links to transporting Russian oil.Countries are trying to counter the shadow fleet by using international laws and conventions. However, this has led to increased risks, including military confrontations. The US has seized ships in international waters off Venezuela, and France has signaled a willingness to intercept suspicious vessels in its waters. These actions have drawn warnings from experts about the risk of confrontation, especially with Russia's willingness to protect its shadow fleet. Despite the risks, the shadow fleet continues to operate, partly due to the high profits involved. Sanctioned oil is often sold at a discount, and shipowners earn premiums for taking on the risk. As long as the economic incentives outweigh the risks, sanctions evasion will likely continue.