Concerns Rise Over Unseaworthy Russian Oil Tankers in Gulf of Finland
Investigations reveal alarming trends in Russian oil transport through the Gulf of Finland, with nearly half of the 600 tankers classified as unseaworthy. The ‘shadow fleet’ raises safety and environmental concerns, as many vessels evade regulations. Blacklisted tankers and aging fleets complicate maritime safety, while Russian companies circumvent sanctions by increasing insurance for oil shipments. Ongoing scrutiny highlights the geopolitical implications of these findings for regional stability.
Surge in Freight Rates Impacting Global Oil Market, Favoring Middle Eastern Grades Over US Cargoes
A recent surge in freight rates has led to a significant impact on the global oil market, particularly in Asia. The increase in shipping costs has prompted crude oil buyers in Asia to shift their focus to Middle Eastern oil,…