Dark fleet that ships Russia’s oil

Mumbai-based Gatik Ship Management owned just two tankers in 2021. Since Russia invaded Ukraine last year, it has purchased 56 vessels to transport oil from Russia, mainly to ports in India
Gatik’s tanker purchases:

Russian crude oil shipments to India (million barrels per month)
Jan
2023
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
15.5
27.0
102.3
93.0
93.0
108.5
90.0
111.6
138.0
179.8
14
173.6
182.0
282.1
231.0
96.9
Up until May 19
Feb
Mar
Apr
May
8
10
2
2
2
1
1
1
10
5

Lionheart (above) 109,700
deadweight tonnage


$1.6 billion
Value of Gatik’s fleet of 58 ships
Average age:17 years

Sources: Bloomberg, Financial Times, TradeWinds
Picture: Buana Lintas Lautan
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