The head of the world's largest publicly listed oil tanker operator warns of a looming disaster due to the increasing number of unregulated vessels operating outside maritime safety standards.
The head of Frontline, the world’s largest publicly listed oil tanker operator, has criticized the UN maritime rule-setting body for failing to address the growing dark fleet of unregulated vessels . Lars Barstad, chief executive of Frontline, expressed concern that a major disaster is inevitable due to the increasing number of dark fleet ships, which now constitute about a fifth of the global fleet.
He also criticized European governments for not adequately enforcing rules aimed at curbing Russian oil trading, stating that they are hesitant to raise energy prices. Barstad highlighted the potential for disaster with the July collision between the Hafnia Nile and the Ceres I, a dark fleet vessel carrying Iranian oil, off the coast of Malaysia. The Ceres I was found to be broadcasting inaccurate radar information, a common tactic used by dark fleet ships to conceal their activities. Dark fleet vessels, often owned by opaque offshore companies and lacking sufficient insurance, typically operate under the flags of countries with lax maritime regulations. Their cargoes include oil from Iran, Venezuela, and Russia. Barstad urged the International Maritime Organization (IMO) to take more decisive action to enforce safety and environmental regulations, stating that these vessels are operating outside the IMO framework. He believes the IMO has been complacent in addressing this issue
Dark Fleet Maritime Safety International Maritime Organization (IMO) Unregulated Vessels Russian Oil
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