Oil tanker fleet linked to Russia is disappearing even faster than it has grown Ship’s crew

(Bloomberg) –

A tanker fleet that appeared out of nowhere to keep Russia’s oil moving has dissipated even faster than it appeared. This underscores the challenge of keeping track of who is helping Moscow get its oil to buyers around the world.

Mumbai-based Gatik Ship Management currently has a fleet of just four oil tankers, according to Equasis, an international maritime database promoting safe shipping. As recently as April it was 42, with most of those airlines amassing in less than a year.

A contact number for Gatik via the Equasis database was not working and a message to an email address provided for the company was not returned immediately.

Gatik came under scrutiny earlier this year as its fast-growing fleet, made up mostly of Russian casks, raised questions about who might back the venture.

Part of the Gatik fleet then lost access to industry-standard insurance after violating a Group of Seven price cap related to the transport of Russian oil. Shortly thereafter, some of the company’s ships also lost their classification with Lloyd’s Register, another important service that validates basic technical standards for ships.

It’s hard to say what really became of the fleet. The ships, no longer under Gatik’s commercial management, continue to carry Russian oil. They are now under the control of a large number of companies whose ownership structure is also unclear.

The fact that Gatik’s fleet shrank so suddenly was previously reported by TradeWinds.

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