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Business Daily

Ghost ships

Jun 23, 2024
17:28
Snipd AI
Rogue ships evade sanctions through risky operations impacting oil trade in Russia. Dark fleet raises concerns about environmental hazards and crew safety. Challenges faced by navies in preventing illicit activities by older vessels with unclear ownership. International Maritime Organisation's effectiveness in tackling the issue questioned.
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Podcast summary created with Snipd AI

Quick takeaways

  • Rogue ships evade sanctions by concealing operations, posing environmental risks.
  • Lack of effective regulation allows shadow fleet to grow, endangering marine safety.

Deep dives

The Impact of Rogue Ships on Sanctions

There is a rising issue of rogue ships evading international sanctions meant to control trade with countries like Russia and Iran. These older vessels with unclear ownership try to bypass the law by concealing their operations. Around 12% of tankers, approximately 455 ships, are considered part of this illicit 'Dark Fleet,' which has doubled in the last 18 months.

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