It is difficult to keep track of who is assisting Moscow in getting its oil to buyers all over the world. A fleet of tankers that sprang out of nowhere to keep Russia’s oil moving has disbanded even faster than it emerged, as published on Bloomberg.
Safe shipping
According to Equasis, a global maritime database created to encourage safe shipping, Mumbai-based Gatik Ship Management now manages a fleet of only four oil tankers. It possessed 42 as of April, having acquired the majority of those carriers in less time.
Gatik’s phone number listed in the Equasis database was unreachable, and the company’s email address didn’t respond to messages very away.
Gatik came under fire earlier this year when its quickly growing fleet, which was largely transporting Russian barrels, sparked concerns about possible financial support for the company.
Fleet vanishes
A Group of Seven price cap pertaining to the transportation of Russian oil caused some of Gatik’s fleet to lose access to industry-standard insurance. Soon after, a number of the company’s ships also lost their classification with Lloyd’s Register, another important organization that certifies fundamental technical requirements for ships.
What has actually happened to the fleet is not quite apparent. Russian oil is still handled by ships that are no longer identified as being under Gatik’s commercial administration. They are currently governed by a large number of businesses whose ownership structure is likewise hazy.
TradeWinds had before noted how abruptly Gatik’s fleet had shrunk.
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Source: Bloomberg
