An in-depth analysis has revealed a network of 45 shadow fleet tankers, predominantly engaged in transporting Russian oil, all tracing back to a single beneficial owner via 45 distinct single-ship companies registered in Hong Kong. This intricate ownership structure was identified through visual link analysis.
Further investigation showed that 42 of these 45 vessels are currently subject to international sanctions. Additionally, all but three of the tankers share 19 different ISM (International Safety Management) managers. These managers are all based within the same industrial hub in Sumqayit, Azerbaijan, indicating a concentrated operational base for this fleet.
For freight forwarders and operations managers, this information underscores the significant risks associated with handling cargo on vessels potentially linked to the shadow fleet. The high number of sanctioned vessels and the opaque ownership structures increase the likelihood of regulatory scrutiny, potential delays, and financial penalties. Forwarders must conduct thorough due diligence on vessel ownership and management, especially for shipments originating from or destined for regions under sanctions, to avoid inadvertent involvement in illicit trade and ensure compliance with international regulations. The concentration of ISM managers in one location could also signal a single point of failure or a coordinated network, adding another layer of risk.