Clandestine Oil Transfers: The Shadow Fleet

This chapter investigates the covert operations of tankers transporting Iranian oil to China, highlighting two key vessels, Titan and Win-Win, engaged in ship-to-ship transfers. It discusses the mechanisms employed to circumvent U.S. sanctions and the emergence of a shadow oil market, estimated to generate over $20 billion in 2024. The chapter also examines the geopolitical implications and the challenges faced by the U.S. in intercepting these illicit shipments amidst complex maritime tactics.