In this episode of the Decisive Podcast, host Kristen Hallam dives deep into the complex world of the maritime shadow fleet, exploring its emergence and evolution since the introduction of the oil price cap on December 5, 2022. Joined by Ines Nastali, Senior Supply Chain Analyst at S&P Global Market Intelligence, the discussion covers how these oil tankers operate outside traditional regulatory frameworks, often evading sanctions imposed by various governments.

Listeners will gain insights into the size and characteristics of the shadow fleet, which includes an estimated 940 tankers, many of which are older vessels that may not meet modern safety standards. Ines shares key statistics, including the significant increase in shadow fleet activity and the sophisticated tactics employed by these vessels to circumvent sanctions, such as turning off AIS signals and engaging in ship-to-ship transfers.

The episode also highlights recent enforcement actions taken against shadow fleet vessels, particularly in the Baltic Sea, and discusses the environmental and safety concerns associated with these aging ships. Tune in to understand the implications of the shadow fleet on global oil trade and the evolving landscape of maritime compliance.

Whether you're a maritime professional, a supply chain analyst, or simply curious about the intricacies of global oil transportation, this episode offers valuable insights and a comprehensive overview of a pressing issue in today's geopolitical climate.

More S&P Global Market Intelligence Content:

• Maritime shadow fleet − Formation, operation and continuing risk for sanctions compliance teams in 2025
• Fraudulent flags: Growing challenge for maritime safety
• The New Tariff Reality: Preparing for Disruption, Defending Your Margins

Credits:

• Host: Kristen Hallam
• Guest: Ines Nastali
• Produced By: Kristen Hallam
• Edited By: Marz Marcello
• Published With Assistance From: Sophie Carr, Feranmi Adeoshun