Shadow Fleet

Shadow fleet is the common term for tankers moving sanctioned oil outside conventional Western insurance and class oversight, synonymous with dark fleet. The vessels are typically over 15 years old, registered to flags of convenience, and insured by non-IG providers whose cover may not pay out on a major spill. After the December 2022 price cap on Russian crude, the fleet expanded sharply, and incidents in the Baltic and off West Africa have exposed gaps in salvage funding and liability.