Iran’s Shadow Fleet and Shadow Banks Keeps the Money Pouring In

Iran’s shadow fleet and shadow banks keeps the money pouring in

Iran has doubled its oil exports since the start of Operation Epic Fury, sustaining flows of between 2.4mn and 2.8mn barrels per day (b/d), including 1.5mn to 1.8mn b/d of crude. It has also doubled the amount of money it’s earning.

Shadow fleet transporting oil

A so-called shadow fleet of tankers transport oil illicitly around the world. They had been on the decline, but the conflict in Iran has changed things. Financial Times mapped the paths and tactics used by these old ships to avoid detection. These views from above make me think it won’t be long until ship tracking and detection systems are all just based on satellite images. That’s gotta be a thing by now. Tags: Financial Times, oil, shipping

Hormuz: The Shadow Fleet Keeps Oil Flowing

The Strait of Hormuz may look “closed,” but oil is still flowing through a hidden shadow economy. From zombie tankers[...]