Shadow tanker catastrophe fears: Oil spill could cost Asian nations $1.6bn, new report warns

The cost to coastal states of cleaning up after a shadow tanker oil spill in South East Asia could hit $1.6bn, according to a new report.

Finland’s Centre for Research on Energy and Clean Air (Crea) said on Friday that the growth of shadow fleets with questions over their regulation and insurance meant that it was only a matter of time before a “catastrophic” ecological event.