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The rising number of ships under sanctions on the world’s oceans poses a growing risk to commercial shipping, maritime executives and insurers warn.
The U.S., European Union and U.K. are increasingly wielding sanctions to combat the so-called dark fleet, which ferries oil and other illicit goods to and from countries such as Venezuela, Iran and Russia. In just three years, 1,125 ships have been placed under sanction, according to maritime intelligence firm Windward.
The WSJ Logistics Report writes in a story for Dow Jones Risk Journal that shipping executives and industry specialists say it is only a matter of time before one of the aging, poorly maintained dark-fleet vessels causes a major maritime disaster. Cleanup operations won’t be easy because sanctions complicate or prevent claim payments.
The shadowy vessels share narrow, busy waterways, such as the Strait of Malacca near Singapore, with mainstream ocean carriers ferrying oil, vehicles, factory parts and finished goods. Joe Kramek, CEO of the World Shipping Council, which represents the world’s largest container and vehicle carriers, said because the dark-fleet vessels are operating outside of the law, ocean carriers can’t be sure their crews are following typical navigation methods or safety standards.
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