Greek Shipowner Urges Faster Scrapping of Sanctioned “Shadow Fleet”
A suspected Russian “shadow fleet” tanker following its apprehension in Indonesian waters, July 2023 Indonesian Maritime Security Agency Tankers
Western governments must accelerate scrapping of unregulated ships hit with sanctions and allow their operators a window to dispose of them as environmental hazards rise daily, one of Greece’s top shipowners told Reuters. The use of a so-called shadow fleet or dark fleet of tankers has accelerated in recent years with hundreds of tankers transporting Iranian or Russian oil with little scrutiny, insurance or safety checks.
Evangelos Marinakis, founder and chairman of Greece-based Capital Maritime Trading Corp, a major ship operator with over 285 vessels ordered, has been actively pushing for the removal of unregulated tankers from global trading. “We face every day environmental risks from dark fleet vessels,” Marinakis told Reuters during the Posidonia shipping week in Athens.
Scrapping Unregulated Tankers: A Solution to Environmental Risks
Marinakis emphasized that scrapping unregulated tankers would not only reduce environmental hazards but also help eliminate the massive profits made by shadow fleet operators. He proposed allowing these vessels to be scrapped in both the United States and the European Union, citing that proceeds from ship disposals would flow to potentially sanctioned entities, typically amounting to less than the profit from a single voyage.
Last month, top Dubai-based ship recycler GMS told Reuters it had won US Government approval to scrap four container ships that were under Iran-related sanctions, though their seller was not affected by sanctions. Marinakis said his group had engaged with Washington on the matter and sent “a lot of useful material”. He declined further comment, while the US Treasury did not respond to a request for comment.
Industry Engagement and Regulatory Efforts
Marinakis’ call to action comes as international pressure mounts on governments to address the environmental concerns surrounding unregulated tankers. His company has been actively engaging with regulatory bodies and industry stakeholders to promote sustainable shipping practices and reduce the risks associated with shadow fleet vessels.
The Greek shipowner’s proposal for faster scrapping of sanctioned “shadow fleet” vessels is seen as a crucial step towards mitigating environmental hazards and promoting responsible shipping practices globally.
Original Article: Greek shipowner urges faster scrapping of sanctioned “shadow fleet” — Bairdmaritime