Tanker

Torm worried about growing Russian shadow fleet

Russia’s shadow fleet, which carries Russian oil on often dilapidated, aged tankers with questionable insurance, is growing, according to a new report.
”If you succeed in getting effective protection against having ships that do not live up to a standard in the market, all else being equal, it will take capacity out of the market,” says Torm chief exec Jacob Meldgaard. | Photo: Carsten Lundager / Torm
”If you succeed in getting effective protection against having ships that do not live up to a standard in the market, all else being equal, it will take capacity out of the market,” says Torm chief exec Jacob Meldgaard. | Photo: Carsten Lundager / Torm
by DAG HOLMSTAD

Tanker carrier Torm’s chief exec Jacob Meldgaard is concerned about the growth of the so-called Russian shadow fleet, which sails with Russian oil on often dilapidated tankers with lower environmental standards.

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