Sanctions-busting Russian tankers shift management base to Türkiye - Lloyd's List

Sanctions-busting Russian tankers shift management base to Türkiye :: Lloyd's List

Sanctions-busting Russian tankers shift management base to Türkiye

Unic is owned by some of Türkiye’s most prominent shipping figures, further adding to debate about whether businesses in the country should be managing non-compliant tankers shipping sanctioned Russian oil

The management of these tankers by a business in Türkiye, a member of the Nato alliance opposing Russia’s war on Ukraine, presents a dilemma for European regulators who regard the presence of non-oil price cap compliant tankers as undermining their oil and shipping sanctions.

TÜRKIYE has become the latest dark fleet* business destination, with four tankers formerly managed by notorious Gatik Ship Management transferring to Izmir-based Unic Tanker Ship Management.

Palau-flagged Helga ( IMO: 9419151) joined Unic in July from Mumbai-based Caishan Ship Management, one of 11 companies linked to Gatik Ship Management and its former fleet of 50-plus tankers plying sanctions-busting Russian oil trades.

Gabon-flagged Hana ( IMO: 9353113) and Alicia ( IMO: 9323986) and Panama-flagged Atacama ( IMO: 9248801) were the three other Gatik-linked tankers now managed by Unic, according to their website.

Management was transferred to the company over July and August, ship databases show.

These tankers are exclusively deployed in sanctions-skirting Russian shipping, and were previously managed by Gatik from a shopping mall in Mumbai.

All but Atacama moved from Gatik to nearby Caishan Ship Management for several months in early 2023, before again transferring to Unic.

The management of these tankers by a business in Türkiye, a member of the Nato alliance opposing Russia’s war on Ukraine, presents a dilemma for European regulators who regard the dark fleet presence as undermining their oil and shipping sanctions.

Unic is owned by some of Türkiye’s most prominent shipping figures holding high-profile roles, further adding to debate about whether businesses in the country should be managing non-compliant tankers.

Unic was founded in August 2020 by local bunker supplier Unerco and other Turkish individuals. Unerco ended its partnership in August 2021, according to the Turkish trade registry.

The company directors listed are Coskun Agca, Sadi Kanat Kizildemir and Mehmet Hakan Tufekci.

The latter is a well known lawyer and managing partner at Tufekci law firm, and prominent figure in Turkish shipping circles where he is spokesman for the country’s maritime law committee and chairman of the disciplinary committee for the Turkish Chamber of Shipping.

Agca is the general manager of Unic Tanker Ship Management and Kizildemir is a partner at the company, according to his LinkedIn profile.

There is no suggestion that Unic is breaching sanctions. Mehmet Hakan Tufekci referred requests for comment on Tuesday to Unic, which did not respond.

Unic also manages another tanker that is solely deployed in Russian oil trades, Panama-flagged Destan ( IMO: 9388766). None of these ships are insured by the 12 clubs that form the International Group.

Hana was deflagged by St Kitts and Nevis and kicked out of the American Club in April for breaching sanctions, and was briefly with the Mongolian registry for seven weeks.

Insurance from group clubs is the best indicator of compliance with the Group of Seven club of industrialised nations.

Western companies can only provide marine services for shipments of oil to third countries if they receive attestations from the shipowner, oil traders and charterers that the cargo was bought at or below the price cap.

The price cap was set at $60 per barrel for crude oil on December 5, and $100 per barrel for refined products and $45 per barrel for fuel oil since February 5.

Anonymously owned Gatik was the poster child for sanctions-busting Russian oil shipping, amassing a fleet of more than 50 tankers worth $1.5bn from scratch from early 2022, prompting head-scratching worldwide over backing and funding sources.

The effectiveness of the price cap has only now faced serious testing because the price of Urals crude, which forms about two thirds of the 4.8m barrels per day in Russian crude exports, surpassed the $60 threshold on July 12, according to assessments from price reporting agency Argus Media.

The price of Russian gasoil and diesel has been trading above the $100 cap since August 5, the International Energy Agency said on August 11.

The vessels classed by the Indian Register of Shipping listed Dubai-based LTA Shipping FZCO as the invoicing addresss for Atacama, Geras Ship Management in Gujarat for Alicia, and Unic Tanker for Hana. The vessel Helga is provisionally classed by ClassNK, shipping databases show.

*Lloyd’s List defines a tanker as part of the dark fleet if it is aged 15 years or over, anonymously owned and/or has a corporate structure designed to obfuscate beneficial ownership discovery, solely deployed in sanctioned oil trades, and engaged in one or more of the deceptive shipping practices outlined by US State Department guidance issued in May 2020. The figures exclude tankers tracked to government-controlled shipping entities such as Russia’s Sovcomflot, or Iran’s National Iranian Tanker Co, and those already sanctioned. Download our explainer on the different risk profiles of the dark fleet here

Lloyd’s List Intelligence Seasearcher subscribers can add the Lloyd’s List dark fleet to their watchlists here