Industry analysis from Energy Aspects indicates that the measure might not lower freight rates because many involved vessels are poorly maintained or already active. Additionally, maritime insurers in the UK and European Union remain subject to their own restrictive regulations, potentially blocking the use of licensed ships. While the Energy Department specified that Russia would still be barred from moving sanctioned oil, the US Navy has spent three months destroying shadow fleet vessels as part of its blockade of Iran.
Tuesday, October 20, 2026
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US Proposes Shadow Fleet Licenses to Cut $805,000 Daily Rates
Commodities6 days ago
The US government is exploring a system where shippers can request permits from the Treasury to move legal oil on tankers that have carried sanctioned crude from Iran, Russia and Venezuela. Energy Secretary Chris Wright introduced the plan to the World Petroleum Congress in Riyadh to increase the flow of refined products out of the Persian Gulf. The effort aims to lower supertanker costs, which reached $805,000 a day last week and reduced the competitiveness of American crude in Asian markets.
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