At least 18 tankers loaded with 2 million tons of oil are stranded in the Black Sea on the way to the Mediterranean due to the insurance issue, Turkey's maritime authority said on Friday
ISTANBUL (Pakistan Point News / Sputnik - 09th December, 2022) At least 18 tankers loaded with 2 million tons of oil are stranded in the Black Sea on the way to the Mediterranean due to the insurance issue, Turkey's maritime authority said on Friday.
"The number of tankers passing through the Bosporus from the southern direction (Black Sea) loaded with crude oil was 44 in October and 43 in November this year. After December 1, 2022, three tankers loaded with crude oil made the passage, submitting a letter of confirmation. On the other hand, the number of tankers waiting in the Black Sea, loaded with about 2 million tons of crude oil, is 18 and the number of tankers waiting in the Aegean Sea is one," the report said
Out of those 18, 15 oil tankers belong to Greece, two to Hong Kong and one to Turkey, with the Protection and Indemnity Insurance (P&I) for these vessels arranged by UK companies-members of International Pal Group, according to the report.
The Financial Times reported Thursday, citing oil traders, that a traffic jam of oil tankers had formed off Turkey's coast after Western countries enforced a price ceiling targeting Russian oil, prompting Turkey to ask for insurance data.
From December 1, Turkey has introduced a requirement for oil shippers crossing the Bosporus Strait and the Dardanelles to present a letter from an insurer confirming that the vessel is covered by the necessary P&I insurance.