One of the countries at the centre of so-called “shadow fleet” ownership says it will tighten insurance requirements for ships under its flag to reduce the risk of oil spills and accidents.
The United Arab Emirates claimed that its planned measures will help to attract “reputable investors” and would increase scrutiny of the record of shipowners.
The moves will have minimal impact on the current safety threat posed by the lightly regulated and elderly shadow fleet of tankers that are hauling Russian oil following the invasion of Ukraine in February last year.
