• Advertise
  • Contact Us
  • Supplier Directory
  • SCB YouTube
  • About Us
  • Login
  • Subscribe
  • Logout
  • My Profile
  • LOGISTICS
    • Air Cargo
    • All Logistics
    • Facility Location Planning
    • Freight Forwarding/Customs Brokerage
    • Global Gateways
    • Global Logistics
    • Last Mile Delivery
    • Logistics Outsourcing
    • LTL/Truckload Services
    • Ocean Transportation
    • Parcel & Express
    • Rail & Intermodal
    • Reverse Logistics
    • Service Parts Management
    • Transportation & Distribution
  • TECHNOLOGY
    • All Technology
    • Artificial Intelligence
    • Cloud & On-Demand Systems
    • Data Management (Big Data/IoT/Blockchain)
    • ERP & Enterprise Systems
    • Forecasting & Demand Planning
    • Global Trade Management
    • Inventory Planning/ Optimization
    • Product Lifecycle Management
    • Robotics
    • Sales & Operations Planning
    • SC Finance & Revenue Management
    • SC Planning & Optimization
    • Supply Chain Visibility
    • Transportation Management
  • GENERAL SCM
    • Business Strategy Alignment
    • Customer Relationship Management
    • Education & Professional Development
    • Global Supply Chain Management
    • Global Trade & Economics
    • Green Energy
    • HR & Labor Management
    • Quality & Metrics
    • Regulation & Compliance
    • Sourcing/Procurement/SRM
    • SC Security & Risk Mgmt
    • Supply Chains in Crisis
    • Sustainability & Corporate Social Responsibility
  • WAREHOUSING
    • All Warehouse Services
    • Conveyors & Sortation
    • Lift Trucks & AGVs
    • Order Management & Fulfillment
    • Packaging
    • RFID, Barcode, Mobility & Voice
    • Warehouse Automation
    • Warehouse Management Systems
  • INDUSTRIES
    • Aerospace & Defense
    • Apparel
    • Automotive
    • Chemicals & Energy
    • Consumer Packaged Goods
    • E-Commerce/Omni-Channel
    • Food & Beverage
    • Healthcare
    • High-Tech/Electronics
    • Industrial Manufacturing
    • Pharmaceutical/Biotech
    • Retail
  • THINK TANK
  • WEBINARS
    • On-Demand Webinars
    • Upcoming Webinars
    • Webinar Library
  • PODCASTS
  • WHITEPAPERS
  • VIDEOS
Home » ‘Shadow Fleet’ of Tankers Hauling Russian Oil Swells to 600 Ships, Trafigura Says

‘Shadow Fleet’ of Tankers Hauling Russian Oil Swells to 600 Ships, Trafigura Says

AN OIL TANKER ON A SMOOTH SEA SPOUTS SMOKE INTO THE AIR

Photo: Bloomberg

February 6, 2023

The “shadow fleet” of ships that transport Russian oil around the world has expanded to around 600 tankers, according to trading giant Trafigura.

About 400 crude oil vessels, or 20% of the global fleet, have “switched” from mainstream trades to “ostensibly do Russian business,” co-head of oil trading Ben Luckock said in an interview on Bloomberg Television. For oil product tankers, the company sees the level at 200 tankers, or 7% of the world total.

“You had the old days of Iran and Venezuela, and there was a shadow fleet that was relatively small — it would manage the sanctioned barrels,” Luckock said. “This Russian flow is vastly different — it’s huge.”

The European Union has imposed a ban on almost all seaborne imports of Russian refined fuels from February 5, two months after imposing a prohibition on crude oil. The measures will come in conjunction with a cap on the price of Russian petroleum for anyone wishing to access key western services like insurance.

The ban will eventually lift crude and products prices as shipping mileages increase and routes take longer, Luckock said.

“There’s a lot of people talking about how they can be clever and get rid of Russian oil. But it is a vast volume that needs to find a new home,” Luckock said. “I think in the early days maybe that’s okay, but as time progresses there will be difficulties in the products markets.”

Oil prices have edged lower this year amid robust Russian production and weaker-than-expected Chinese crude demand. Many buyers and shippers remain willing to do business with Moscow despite tightening international sanctions. Brent crude futures traded near $80 a barrel in London on February 3.

Crude will trade in a range of $80 to $100 barrel, heading above $90 this summer as Chinese demand recovers, though futures may struggle to break triple-digits, Luckock said.

“We are building a deep inefficiency into an oil market that has spent decades becoming incredibly efficient,” Luckock said. “This will get worse over time.”

Trafigura is doing “very little” Russian oil-products business, in line with current regulations, but the company —  which is one of the world’s biggest commodity traders and until recently had investments in projects with Russia’s Rosneft PJSC — will be keeping an eye on what the EU announces on Sunday.

“We’ve got a group of compliance people and lawyers waiting to see what the rules are,” he said.

    RELATED CONTENT

    RELATED VIDEOS

    Ocean Transportation Global Trade & Economics Regulation & Compliance Chemicals & Energy
    • Related Articles

      Aging Shadow Fleet Carrying Russian Oil Poses Disaster Risk

      Tankers Hauling Kuwaiti Oil Veer From Red Sea After Friday Blast

      World Fleet of Ocean Tankers Predicted to Grow Over Next Five Years

    Subscribe to our Daily Newsletter!

    Timely, incisive articles delivered directly to your inbox.

    Featured Product

    Popular Stories

    • A TRUCK WITH ITS CONTAINER DOOR OPEN SITS UNDER A SIGN THAT READS INTERNATIONAL BORDER COMMERCIAL TRUCKS

      Importers Into Mexico Can No Longer Delay Complying With New Customs Declaration Law

      Data Management (Big Data/IoT/Blockchain)
    • An overhead view of a shipping port stacked with containers, with stylized lines forming a grid connecting ships and berths

      How Supply Chains Can Survive the Next Unexpected Demand Surge

      Data Management (Big Data/IoT/Blockchain)
    • 018_how_3pls_can_get_started_with_ai_v1-(540p).png

      Watch: How 3PLs Can Get Started With Automation

      Logistics Outsourcing
    • An employee in a warm suit crouches down to get boxes of food ready for shipping at a warehouse

      Packaging Optimization Is Boosting Cold Chain Growth

      Air Cargo
    • Three rows of yellow box trucks parked in front a white sheet metal building, with "DHL" written in red letter across the back

      DHL Inks $10B Last-Mile Delivery Deal with USPS

    Digital Edition

    2026 esg cover main scb q2 2026 cover

    SupplyChainBrain 2026 ESG Guide: ESG — The Supply Chain’s Biggest Secret

    VIEW THE LATEST ISSUE

    Case Studies

    • Recycled Tagging Fasteners: Small Changes Make a Big Impact

    • A GRAPHIC SHOWING MULTIPLE FORMS OF SHIPPING, WITH A HUMAN STANDING AT THE CENTER, TOUCHING A SYMBOLIC MAP OF THE WORLD

      Enhancing High-Value Electronics Shipment Security with Tive's Real-Time Tracking

    • A GRAPHIC OF INTERLACING HONEYCOMBED ELEMENTS REPRESENTING GLOBAL BUSINESS TRANSACTIONS

      Moving Robots Site-to-Site

    • JLL Finds Perfect Warehouse Location, Leading to $15M Grant for Startup

    • Robots Speed Fulfillment to Help Apparel Company Scale for Growth

    Visit Our Sponsors

    4flow Arkieva Blue Yonder
    Carton Cloud CoEnterprise Dassault
    Duravant E2Open General Logistics Systems
    Hy-Tek iGPS Korber
    Lyngsoe Procurability Quinyx
    SAP Sikick Systech
    S&P Global Mobility TADA TransImpact
    US Bank Werner Enterprises WSI
    • More From SCB
      • Featured Content
      • Video Library
      • Think Tank Blog
      • SupplyChainBrain Podcast
      • Whitepapers
      • On-Demand Webinars
      • Upcoming Webinars
    • Digital Offerings
      • Digital Issue
      • Subscribe
      • Manage Email Preferences
      • Newsletters
    • Resources
      • Events Calendar
      • 2026 Event Coverage
      • SCB's Great Supply Chain Partners
      • Supplier Directory
      • Case Study Showcase
      • Supply Chain Innovation Awards
      • 100 Great Partners Form
    • SCB Corporate
      • Advertise on SCB.COM
      • About Us
      • Privacy Policy
      • Contact Us
      • Data Sharing Opt-Out

    All content copyright ©2026 Keller International Publishing Corp All rights reserved. No reproduction, transmission or display is permitted without the written permissions of Keller International Publishing Corp

    Design, CMS, Hosting & Web Development :: ePublishing