Shadow Fleet: How illicit shipping networks broke global oil trade

The shadow fleet is by now a well-known tool for Russia and other petrostates to evade international sanctions. Yet this underground network continues to frustrate attempts at regulatory crackdowns, and has now grown to historic proportions.

In this documentary, Platts reporters and industry leaders lift the lid on the largest shadow fleet in history, and probe how it is distorting oil trade as we know it.

Runtime: 12 minutes

Speakers:

Kelly Norways, Downstream Oil News Reporter, EMEA, S&P Global Commodity Insights

Dave Ernsberger, Co-President, S&P Global Commodity Insights

Max Lin, Principal Journalist, S&P Global Commodity Insights

Larry Johnson, Global Head of Oil and Shipping, Mercuria

Andrea Olivi, Global Head of Shipping, Trafigura

Mikael Skov, CEO, Hafnia

With insights from S&P Global Market Intelligence analysts, including Byron McKinney, Director, Trade Compliance Solutions

Explore Topic: Global Sanctions and Commodity Markets

Whitepaper: Maritime Shadow Fleet − Formation, operation and continuing risk for sanctions compliance teams in 2025 (S&P Global Market Intelligence)