The Swedish Coast Guard has seized a tanker in the Baltic Sea, believed to be part of Russia’s shadow fleet. The Syrian-flagged vessel, Jin Hui, was boarded south of Trelleborg, prompting an investigation into its seaworthiness. Authorities suspect it operates under a false flag, violating international regulations.
The United Arab Emirates has prohibited ships flying the flag of landlocked Eswatini from entering its ports. The move is a response to vessels involved in transporting Russian oil, with Cameroon’s flag also on the restricted list. Safety concerns have emerged regarding lesser-known flags post-Ukraine invasion. Eswatini’s ship count is minimal.
The crude oil tanker market faces challenges due to an ageing fleet in need of replacement. Shipyards focus on building other vessel types. Trafigura orders five new VLCC tankers to modernize its fleet. The market requires around 1,100 new crude oil tankers, including 400 VLCCs, to meet demand. Trafigura sees potential growth in this segment.
