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An armada of tankers ferrying sanctioned oil around the globe is starting to get younger, bucking a months-long trend of using the world's oldest and most

An armada of tankers ferrying sanctioned oil around the globe is starting to get younger.

Shortly after President Vladimir Putins invasion of Ukraine early last year, hundreds of aging tankers were snapped up by a cohort of faceless traders, intermediaries and investors to keep Russian oil flowing. By some estimates, the purchases, which added to vessels that were already transporting crude for Venezuela and Iran, created a more than 900-strong dark fleet.

(Bloomberg) -- An armada of tankers ferrying sanctioned oil around the globe is starting to get younger, bucking a months-long trend of using the world’s oldest and most dangerous vessels.Most Read from BloombergTrump ‘Standing Order’ to Declassify Not Found by DOJ, Intelligence AgencyChina Has $3 Trillion of ‘Hidden’ Currency Reserves, Setser SaysA $100 Billion Wealth Migration Tilts US Economy’s Center of Gravity SouthChina’s Economic Woes Are M...

The 90m superyacht Dar, linked to Russian billionaire Ziyad al Manasir, is currently moored in Singapore’s Marina at Keppel Bay.

The pandemic has changed the nature of global supply chains with companies seeking to source goods from multiple places in order to minimize shipment and production disruptions.

The days when transport and logistics expenses were low are gone.

Middle-East Arab News and Opinion - Asharq Al-Awsat is the world’s premier pan-Arab daily newspaper, printed simultaneously each day on four continents in 14 cities

Ukrainian officials denounced Russian naval drills off its Black Sea coast yesterday, saying the presence of warships made navigating the busy trade route “impossible”. Traders have so far been more cautious in their assessment, but data from VesselsValue shows a visible impact on trade volumes. The Black Sea is a major export region for several ...

On 31st December 2021, the Indonesian government announced a ban on coal exports for the month of January, to allow supplies at domestic power plants to be replenished after dropping to critically low levels. The ban was met with significant opposition from mining groups and importers, with Japan’s embassy in Jakarta calling for a prompt ...