Russia's shadow tanker fleet could total 600 ships, Trafigura estimates

A $2.2 billion fleet of often older tankers has been assembled to keep Russian crude and fuel exports flowing, Bloomberg reported on 20 February. Commodity trader Trafigura estimates the shadow fleet could number 600 vessels, 400 of them crude carriers, while some shipowners privately put it at 10 to 12 per cent of the global tanker fleet. VesselsValue, which tracks ship sales, estimates that just over $850 million was spent last year expanding the dark fleet of fuel tankers and almost $1.4 billion on crude carriers. Since sanctions on Russian refined fuels took effect earlier in February, daily earnings for product tankers crossing the Atlantic have risen fivefold, the report says.

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