The largest owner of the shadow fleet of Russia revoked the certification of tankers
Western countries continue to increase pressure on the “shadow fleet” of dozens of tankers that transport Russian oil to Asia, bypassing sanctions and the price “cap”.
India-registered Gatik Ship Management, which became the main carrier of barrels from Russia late last year, has been stripped of its tanker certificate in Britain’s Lloyd’s Register, Reuters reported.
The Mumbai-based company, which has amassed a fleet of more than 30 million barrels, has revoked the certificates of 21 tankers since June 3. Lloyd’s Register “is committed to facilitating the enforcement of Russian oil trade sanctions” and will not provide services to vessels that violate them, a Lloyd’s spokesman told Reuters.
Classification societies such as Lloyd’s Register in London provide services that include seaworthiness testing, certification required to secure insurance and port entry.
In total, Gatik has a fleet of 48 tankers worth $1.4 billion. Almost all the ships called at Russian ports and exported oil or petroleum products, according to a Vortex analysis.
The company, which was little known about until last year, ran into trouble in April when insurance for its tankers was withdrawn by the Underwriters Club of America. It is part of the International Group of P&I Clubs, or IG P&I, which provides insurance for over 90% of global shipments.
Earlier, Gatik was forced to look for a new flag for 36 ships after they were deflagged by the International Register of Shipping Kitts & Nevis.
Ingosstrakh, Russia’s main marine insurer, also refused to cooperate with Gatik. A company spokesman told Reuters that its Prometheus oil tanker insurance had expired in April and had not been renewed.
Ingosstrakh added that he was forced to reject some insurance claims from Gatik due to the risks identified as part of the screening process for negative media coverage.
Since the beginning of the war, India has increased its imports of Russian oil more than 30 times, despite calls from the West to join sanctions over the war in Ukraine. According to Reuters, in April 70% of Russian sea exports went to the Indian market.