In a recent podcast, Lloyd’s List experts addressed several key issues impacting the maritime industry today. These include the growing “shadow fleet,” the behavior of Chinese shipowners in the Red Sea, and the potential consequences if the International Maritime Organization (IMO) does not adopt its Net-Zero Framework.
The Rise of Shadow Fleet
The “shadow fleet” is a group of vessels operating in a legal gray area, often to circumvent international sanctions. This fleet has grown significantly, especially since the imposition of Western sanctions on Russian oil. These vessels, which are often older and poorly maintained, use deceptive practices such as turning off their Automatic Identification System (AIS), spoofing their location, and engaging in ship-to-ship transfers at sea to disguise the origin of their cargo. The expansion of this fleet is fueled by the economic incentive to continue trading with sanctioned nations like Russia and Iran.
Featuring on the Podcast are:
- Richard Meade, editor-in-chief, Lloyd’s List
- Bridget Diakun, senior maritime risk analyst, Lloyd’s List
- Cichen Shen, APAC editor, Lloyd’s List
- Declan Bush, senior reporter, Lloyd’s List
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Source: Lloyd’s
