Sanctions-busting shipowners exploit ‘vulnerable’ P&I Clubs
Four clubs outside the International Group — which provides third-party liability for 90% of the world’s fleet — are providing certificates linked to tankers engaged in evasive or deceptive shipping practices associated with Iranian and Venezuelan crude trades
‘No system is flawless and is therefore vulnerable to a certain extent,’ says Maritime Mutual director, with few P&I clubs resourced to check on day-to-day movements of all insured ships
