Singapore Detains Record Number Of Oil Tankers As Shadow Fleet Expands

Singapore, a major hub for oil transportation and storage, has detained this year a record-high number of oil and chemicals tankers that have failed to pass inspection—more than the number of detained tankers in the whole decade to 2019. As old tankers are increasingly used by Russia to ship its crude oil and products without Western insurance, the crackdown on vessels without all safety features in place has intensified in Asia in recent months. Asia is now the top destination for Russian crude oil after the EU embargo and the G7 price cap…