The shadow carrier of Russian oil will have its shipping license revoked
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The global shipping regulatory company Lloyd’s Register has revoked the licenses of the tankers of the Indian corporation Gatik Ship Management since June 3. This company is considered the largest “shadow” carrier of Russian oil after the start of the war in Ukraine.
Lloyd’s Register told Reuters that they are trying to help comply with sanctions on Russian oil trade. If the violation of sanctions is confirmed by evidence, Lloyd’s Register prohibits any services to courts connected with the violations, the company emphasized.
Measures will affect 21 tankers. Without a license from the regulator, they will not be able to issue insurance and enter ports.
However, Lloyd’s Register also reported that 11 of the company’s vessels are certified by the Indian Register of Shipping (IRClass) and will probably be able to continue shipping with their license.
One of the largest American insurers, American Club, also told Reuters that it no longer provides insurance coverage for Gatik vessels, and the Russian insurer Ingosstrakh said that it does not plan to work with Gatik in the future. They did not specify the reasons for their decisions.
This year, Gatik became the leading carrier of Russian oil to India, using a fleet of more than 40 tankers.
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