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Dark Fleet Oil Tanker Caught in Recent Collision Heads to China [Yahoo! Finance Canada]

Hafnia Limited Common Shares (HAFN) 
(Bloomberg) -- A dark-fleet oil tanker that was recently involved in a crash in Southeast Asia is now on its way to China. Most Read from Bloomberg Ceres I, an aging very-large crude carrier that's suspected of transporting sanctioned oil, is en route to Zhoushan in eastern China, according to ship-tracking data compiled by Bloomberg. The vessel meets widely accepted traits of a dark fleet tanker. It appears on a list of vessels suspected of trading Iranian oil in defiance of US sanctions, sails under a flag of convenience and has previously turned off its transponder to avoid detection. Its crash with a regular merchant vessel in July also highlights the significant claims risk the dark fleet poses for marine insurers. Furthermore, its age and capacity to carry as many as 2 million barrels of crude pose a major environmental risk that could rival some of the worst spills in history. Before its latest journey, the VLCC had been detained by Malaysian authorities for its invo Show less Read more
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