A “tug of war” is getting started over ships involved in illicit trades.
Barry Rogliano Salles (BRS) said in its monthly tanker market note that with Russia-connected ships facing port and insurance bans and the return of Iranian oil to above-board trading looking remote, the two countries may begin competing for tonnage.
“Owners of dirty shadow tankers who are not affiliated to Iran or Venezuela may soon have to decide whether they will continue transporting Iranian or Venezuelan oil or move to carrying Russian crude and fuel oil,” the French shipbroker said.
