The “shadow fleet” threatens shipping, as ghost ships arrive at India’s shipbreaking yards. These ships, of unknown identity and dangerous to safety, are creating serious disruptions in the shipping industry.
The so-called “shadow fleet” appears to be evolving into a complex problem, as beyond defying all sanctions, it possesses ships which are of unknown identity and dangerous to safety, while now it is also creating disruptions in the shipbreaking sector.
With the volume of ships going for scrap being at the lowest levels in a decade, shipbreaking yards, in a move of desperation, began accepting ships that belong to the shadow fleet.
According to Clarksons Research, this increase in sanctioned ships going to shipbreaking yards in India is putting pressure on the sector’s prices, creating an additional problem for this sector.
These ships appear to be broken up secretly, flying under the industry’s radar. The problem becomes even greater, as these ships are acquired at reduced or even humiliating prices, meaning they are also broken up at a lower cost, creating further downward pressure on the sector’s prices.
The sanctioned tankers being broken up in India are often accompanied by special payment terms and measures to conceal the identity of their real owners.
So we see that the shadow fleet is beginning to enter yet another sector of the shipping industry, and not just that of transporting illegal or sanctioned oil.
The evil for shipping with these ships is that they constitute a huge problem for safety at sea. No one can be sure of the condition these ships are in or the quality of the crews manning them.
Urgent measures must be taken before a major maritime disaster occurs. The ships of the shadow fleet have now become a scourge and are directly threatening the safety of transport at sea.
