Bullets:
The world’s shadow fleet is growing, despite heavy sanctions and occasional seizure by Western militaries.
In 2025, 3.7 billion barrels of oil were hauled from sanctioned energy producers on dark fleet ships, mostly to markets in Asia.
Tracking, boarding, and seizing vessels on the open seas requires highly specialized teams and expensive equipment, and so successful operations are rare, and well publicized.
But today’s shipping industry cannot meet current demand, and shipyards are years behind.
Western economies and politicians are struggling with record-high prices for shipping and refined fuels. Despite rhetoric to the contrary, have no choice to but leave the dark fleets alone.
Closing scene, Lujiazui, Shanghai
Resources and links:
Iran-Linked Oil Tankers Seized by US Navy Now Headed to U.S. Coast
https://energynewsbeat.co/crude-oil/iran-linked-oil-tankers-seized-by-us-navy-now-headed-to-u-s-coast
1,300 Tankers Outside the System — How the Shadow Fleet Repriced the Ships That Stayed
http://fairwayeta.com/insights/shadow-fleet-1300-tankers-outside-the-rules-2026
The 900-Ship Arithmetic — Why the VLCC Fleet Is Smaller Than It Looks
https://www.fairwayeta.com/insights/vlcc-fleet-deep-dive-age-orderbook-supply-2026
The Next Inflation Shock: $1 Million-a-Day Oil Tankers
https://www.bloomberg.com/opinion/articles/2026-09-21/oil-market-the-1-million-a-day-oil-tanker-will-drive-inflation because we have a shortage
Statement of Chairman Louis E. Sola: Chinese Maritime Influence and Iran’s Shadow Fleet Threaten Global Trade Stability
https://www.fmc.gov/ftdo/statement-of-chairman-louis-e-sola-chinese-maritime-influence-and-irans-shadow-fleet-threaten-global-trade-stability/
Hong Kong and the Shadow Fleets
https://www.wsj.com/opinion/hong-kong-and-the-shadow-fleets-93dec994
The results and limits of European states’ interventions against the Russian shadow fleet
https://pism.pl/publications/the-results-and-limits-of-european-states-interventions-against-the-russian-shadow-fleet
Shipping Adds $26 Per Barrel to Cost of Oil
https://mishtalk.com/economics/shipping-adds-26-per-barrel-to-cost-of-oil/
House Flip? Senate Hold? Prediction Markets Unleash Wild 2026 Midterm Election Bets
https://news.bitcoin.com/house-flip-senate-hold-prediction-markets-unleash-wild-2026-midterm-election-bets/
Fox News Power Rankings: What’s in an economy?
https://www.foxnews.com/politics/fox-news-power-rankings-whats-economy
From Inside China / Business via This RSS Feed.