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Global 'Dark Fleet' Reducing in Age


The global ‘dark fleet’ carrying sanctioned barrels from Russia, Iran and Venezuela is getting younger according to VesselsValue. The average age has driven down from around 19 years in October 2022 to around 15 in July 2023.

  • Detentions in Asia for older vessels deemed unsafe is likely the catalyst driving vessel age in the fleet lower.
  • Chinese officials have forced some older vessels carrying sanctioned oil to wait over a month at Qingdao.
  • Singapore has also been conducting higher levels of inspections of older vessels forcing the vessels into longer port stays.
  • Vessels are also covering longer distances because of the change in trade patterns since Russia was hit by western sanctions - pushing most of its oil to Asian markets.

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