More Russian-flagged vessels than usual switched flags to other countries in March, possibly to disguise their links to Moscow and avoid being dragged into sanctions over the Ukraine invasion, reports Windward Ltd.
A total of 18 ships, including 11 cargo ships, switched to non-Russian flags last month. This is more than three times the monthly average. It is also the first time the figure has reached double digits, based on data going back to January 2020. The reflagging comes at a time when Russian ships - from oil tankers to multimillion-dollar yachts owned by oligarchs - are no longer recognisable and are switching off identification and tracking systems that should always be switched on at sea. Of the 18 ships, three are tankers, two of which are carrying oil. Five ships that were reflagged in March are directly linked to Russian owners. Eleven cargo ships are from the same fleet, owned by a company from the United Arab Emirates, and they are all reflagged to the Marshall Islands. Three ships were flying the flag of St Kitts and Nevis.
A change of flag is not unusual - the monthly average for ships from Singapore in 2021 was 17 changes of flag, while Japan is averaging five per month this year. However, these numbers remain constant. Russia's 3,300-strong fleet has seen a sudden surge in changes.
Source: Bloomberg / Oanh Ha /Windward
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