REGULATORY · MARKET STRUCTURE · INDIA

India moves to enforce against sanctioned “dark fleet” tankers near Mumbai

Change
The Indian Coast Guard seized three oil tankers off Mumbai on Friday that it said were tied to an international oil-smuggling network and had repeatedly changed identity.
India moves to enforce against sanctioned “dark fleet” tankers near Mumbai
Why it matters
This is a practical enforcement step that raises the near-term risk of detention, discharge denial, and voyage disruption for tankers with opaque ownership/flag histories calling at Indian ports. Cargo owners, traders, and charterers moving Iranian- or other sanctioned-linked barrels face higher counterparty and demurrage exposure if vessels are stopped in Indian waters. The action also signals tighter operational screening around India’s earlier stance of not allowing sanctioned tankers to discharge, increasing compliance requirements for documentation, flag validity, and vessel history on India-linked routes.
Source

Read full article on Economic Times →

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