The U.S. government will allow sanctioned tankers from Russia's 'shadow fleet' to be sold to investors so they can return to legal shipping, Energy Secretary Chris Wright said at a Citadel Securities event in New York. Buyers will refit idle vessels to carry non-sanctioned oil, and Wright stressed this is a change of ownership and operating status, not simply lifting restrictions. U.S. officials estimate the global shadow fleet includes about 1,600 tankers, and the mechanism could bring dozens or even hundreds of them back into service. The move comes amid an unfinished war with Iran that has nearly shut the Strait of Hormuz, pushing the cost of shipping oil from the Persian Gulf to East Asia more than sixfold above pre-war levels. A KSE Institute study from June 2026 found that 862 shadow fleet tankers have carried Russian oil since early 2023, with 695 still active between May 2025 and May 2026.
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Original headline: Mỹ xúc tiến bán tàu chở dầu thuộc 'hạm đội bóng tối' tịch thu của Nga
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- Russian Oil Exports by Arctic Route Jump Amid World Freight Crisis
Russia's oil exports via the Northern Sea Route (NSR) in 2026 have already surpassed last year's total by nearly 50%, with around 20 million barrels shipped to Asia from the start of navigation in July to mid-October, according to traders and data. The Arctic route, long seen as riskier and costlier, has become more attractive as disruptions on routes through the Suez Canal, the Strait of Hormuz and the Black Sea area have pushed tanker freight rates to record highs. Volumes are expected to rise by another 5-10 million barrels by the end of the navigation season, compared with 13 million barrels in the last season. Gazprom Neft plans to increase its NSR shipments by about 35% from 2025, and the newly opened Vostok Oil project is also adding to volumes. LNG supply via the route is also expected to rise after Arctic LNG shipments began.
- Iran plan to open shipping lane still on the table
Iranian Foreign Minister Abbas Araqchi says Iran's seven-day proposal to reopen the Strait of Hormuz remains on the table, although Washington has not addressed all seven conditions, including lifting the US blockade of Iranian ports and sanctions on oil exports. He said that if the US accepted, the strait could reopen within six days, with talks resuming the next day. The main sticking point is Washington's demand that Iran's nuclear programme be addressed from the outset, with Vice President JD Vance calling for a “meaningful” cut in uranium enrichment capacity. Iran's Revolutionary Guards claimed two oil tankers caught fire after hitting naval mines, though this has not been independently confirmed. Maritime officials also reported that a container ship and a dry bulk carrier sank near the strait after being hit by projectiles, and attacks in the area have surged, pushing up global energy prices and inflation.
- Iran plan to open shipping lane still on the table
Iran's foreign minister Abbas Araqchi said Tehran's offer to reopen the Strait of Hormuz within seven days remains on the table while it reviews Washington's response. He said that if the US accepts Iran's conditions, including lifting the blockade on its ports, lifting sanctions on oil exports and ending hostilities on all regional fronts, the strait could reopen within six days. Washington insists that Iran's nuclear program be addressed from the outset, and Vice President JD Vance has demanded a 'meaningful' cut in Iran's uranium enrichment capacity to end the eight-month war. Iran's Revolutionary Guards navy said two oil tankers caught fire after hitting mines while crossing the strait, a claim IRNA reported without independent confirmation. A container ship and a dry bulk carrier also sank near the strait after being hit by projectiles in separate incidents, and attacks in the area have surged over the past two weeks.
- Iran plan to open shipping lane still on the table
Foreign Minister Abbas Araqchi says Iran's seven-day proposal to reopen the Strait of Hormuz is still on the table, while Iran's security chief said talks had stalled over Washington's failure to address all seven conditions. Tehran's conditions include lifting the US blockade of its ports and sanctions on its oil exports, and ending hostilities on all regional fronts; if accepted, the strait could reopen within six days. Washington insists on addressing Iran's nuclear program from the outset, with Vice President JD Vance demanding a "meaningful" cut in uranium enrichment. Iran's Revolutionary Guards say two oil tankers caught fire after hitting naval mines, a claim IRNA reported without independent confirmation, and a container ship and a dry bulk carrier sank after being hit by projectiles. Attacks around the strait have surged over the past two weeks, adding to disruptions that have boosted global energy prices and inflation.
- Two tankers hit mines in Strait of Hormuz : Iran navy
Iran's Revolutionary Guards navy says two oil tankers caught fire after hitting naval mines while crossing the Strait of Hormuz, according to IRNA, and state media said each carried about 2 million barrels of crude. IRNA said the vessels had switched off their positioning and radar and used an unauthorised route, and that one was left immobilised; no independent confirmation was available. Maritime officials said on Wednesday that a container ship and a dry bulk carrier sank near the strait in separate incidents after being hit by projectiles. Attacks around the waterway have surged over the past two weeks, with Iran saying it is stepping up strikes in response to the US blockade of its ports and sanctions imposed last month. The strait, only 35 to 40 km wide at its narrowest point, is the centre of the Iran-US conflict, and limited access has pushed up fuel prices worldwide.
- GMS Week 42 – Freight Finally Flinches | Hellenic Shipping News Worldwide
The Baltic Dry Index fell more than 14%, from 2,973 on October 8 to 2,545 on October 15, mainly because Capesizes dropped from 4,512 to 3,322, while Supramaxes rose to 1,856. Recycling indications at all four destinations were unchanged, and no fresh market sales were reported this week. In the Strait of Hormuz, the Singapore-registered GFS Pride was struck on October 13 and later sank after catching fire, while GFS Giselle sustained hull damage; all 43 crew were reported safe. The IEA plans to accelerate the release of about 100 million barrels of emergency oil stocks, yet Brent remained around USD 105 to 106 per barrel. The article argues that one week's correction is not enough to change owners' decisions, since route risks keep ageing tankers more attractive to trade than to recycle.
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