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China Increases Inspections on Old Tanker Arrivals

OIL

Chinese authorities in the Shandong province have increased the inspections on old foreign vessels arriving at the port of Qingdao according to Bloomberg.

  • At least two oil tankers more than 20 year old, including one from Russia, spent nearly a month waiting to be inspected more thoroughly. The local maritime authority is carrying out increased safety checks on foreign ships more than 15 year old according to Bloomberg sources.
  • The number of old oil tankers has soared with the ‘dark’ or ‘shadow’ fleet of oil tankers growing to include tankers shipping Russian oil and products as well as sanctioned Iranian and Venezuelan oil.
  • Hundreds of mostly older vessels nearing the end of service changed ownership to companies not associated with the EU or G7 ahead of the EU ban on Russian crude back in December.

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