The European Union has taken a major step in its ongoing campaign against the shadow fleet – a sprawling network of aging, uninsured, and often sanctioned vessels quietly operating in European waters.
The European Commission amended the Vessel Monitoring Directive to require all vessels passing through EU waters – even those not calling at an EU port – to provide proof of insurance. As noted in this blog post’s title, this move is likely indicative of what’s to come…
The Rationale
“This is a targeted measure with potentially great impact, enhancing the preparedness of the EU’s coastal states,” said Magda Kopczyńska, Director-General for Mobility and Transport.
The rationale behind the move is clear: the shadow fleet presents mounting sanctions, safety, and environmental risks to European nations. S&P Global Market Intelligence found that more than 800 sanctioned ships currently lack confirmed insurance and the average sanctioned vessel is 21 years old – roughly eight years older than the global average.
Aging, uninsured vessels dramatically increase the chances of catastrophic incidents, from oil spills, to subsea cable damage. We’ve seen several near-disasters linked to the shadow fleet over the past year, prompting countries across Europe…