Read Authentic Ratings for the Conico-Atlas

The 'Conico Atlas', a vessel associated with Russia's shadow fleet, has made headlines after being sold for scrap in early 2025. This tanker faced legal troubles in India following a botched sale, as the buyer alleged that the vessel had been misrepresented and was subject to sanctions at the time of purchase. Banned from entering the port of Vadinar, the ship ultimately made its way to the renowned Alang shipbreaking yard on June 16 for demolition. However, the situation took a turn when Global Maritime filed a petition to halt the scrapping process, aiming to void the contract and recover advance payments made. Allegations surfaced that the registered owner, Tachio Trading, failed to disclose the tanker’s sanctioned status during the contract signing. Despite a 10% deposit being paid, the buyer entered into an agreement with Shri Gautam Ship Breaking for the demolition. Significant payments, including customs duties, port fees, and a letter of credit, had already been processed when Global Maritime attempted to finalize the transaction via Mashreq Bank. Unfortunately, this payment was blocked upon revelation from authorities in the UK, EU, Australia, Canada, Switzerland, and New Zealand that the 'Conico Atlas' was indeed under sanctions. Court documents indicate that the tanker’s owner contested these sanctions, allegedly pressuring the buyer to complete the deal regardless. Global Maritime is now pushing to have all related agreements declared null and void while seeking a monetary decree plus interest. According to BRS Shipbrokers, exiting the grey fleet remains challenging for tankers without selling to another grey fleet operator. Cash buyers and recycling facilities typically operate in U.S. dollars, which complicates transactions for sanctioned vessels, placing them outside of the U.S. banking system. In fact, between 2024 and 2025, 15 grey tankers were dismantled, with eight directly or indirectly tied to sanctions, enabling grey fleet owners to offload less desirable or problematic vessels. Should the demolition of other vessel types increase, it is anticipated that recyclers may become unwilling to accept grey tonnage due to inherent risks.

In a significant maritime milestone, a vessel has successfully arrived at the Alang anchorage on June 16, 2025. This strategic location in India is well-known for its ship-breaking operations, attracting various ships awaiting dismantling. The arrival at Alang marks a key event in the ongoing activity within the maritime and shipping industry.

On June 13, 2025, a vessel successfully reached Bhavnagar Anchorage, marking a significant event for maritime activities in the region. The arrival at this strategic anchorage brings prospects for enhanced shipping operations and trade opportunities. Bhavnagar, known for its bustling port activities, is vital for facilitating the movement of goods and enhancing regional economic growth.

In a striking maritime maneuver, the tanker 'Andaman Skies', laden with Russian oil, is transferring its cargo to the Sao Tome and Principe-flagged vessel 'Ozanno' (IMO: 9394935). This transfer comes after Indian authorities blocked 'Andaman Skies' from accessing the port of Vadinar due to its lack of a seaworthiness certificate from an Indian-recognized classification agency. According to maritime regulations in India, tankers exceeding 20 years of age are mandated to possess a seaworthiness certification from either a recognized member of the International Association of Classification Societies or an authorized body under India's maritime administration. The 'Andaman Skies', which remained stationary off Mumbai, is carrying around 100,000 metric tons (approximately 800,000 barrels) of Varandey Russian oil, procured from Lukoil at the Murmansk port. Meanwhile, the 'Ozanno' departed from Sikka on March 29, 2025, and is slated to arrive at the Indian Oil Corporation facility at Vadinar next week, having anchored at position 18° 58' N 072° 24' E as of April 4. Notably, both vessels are under sanctions imposed by the UK and the European Union; however, they remain unaffected by restrictions from the United States or the United Nations, with India following UN-sanctioned guidelines.