A Tanker And A Maze Of Firms: A Method Illicit Oil Reaches North Korea

This is BizVibe’s comprehensive list of the top 10 largest oil tanker firms on the planet in 2020. It is called the Diamond 8 and it was flagged by the United Nations for at least three illicit deliveries to North Korea between 2019 and 2020. We also untangled an elaborate net of corporations linking the Diamond 8 and its provider ships to the Winson Group’s Taiwan operation, Winson Shipping. After fast growth in 2017, the demand for crude oil has seen up and downs like some other market where demand is dependant on multiple elements corresponding to production and even the politics behind all of it.

Both the Diamond eight and the 2 tankers that transferred oil to it — the Ever Grandeur and the Super Star — are linked to the Taiwan operation of the Winson Group. The company’s founder, Tony Tung, has been investigated on suspicion of smuggling in China and bribing officials in Taiwan, but his only conviction was later overturned. As each Iran and Venezuela have boosted exports, cargo trackers have detected an elevated number of STS transfers in open waters over the past year.

All the tankers are Suezmax measurement and operate beneath the flags of Marshall Island, Cayman Islands, Liberia, Bahamas, and Cayman. STI Supreme Shipping Company Limited, Sting LLC, STI Guard Shipping Company Limited, and Venice Shipping Company Limited are a few subsidiaries of Scorpio tankers. BizVibe has redefined the concept of B2B networking by helping consumers select the proper supplier. Our platform is designed to help boston public bought spy with pot firms generate leads, shortlist suppliers, request for proposals, and determine world corporations. There are presently 810 very giant crude carriers in the world fleet. Using evidence that’s hidden in plain sight, our investigative journalists current a definitive account of the news — from the Las Vegas massacre to a chemical assault in Syria.

To take pleasure in our content material, please include The Japan Times on your ad-blocker’s record of permitted websites. Access unmatched monetary data, information and content material in a highly-customised workflow experience on desktop, web and cell. “Shipping unfortunately has still very opaque sides to it,” Jan Dieleman, president of Cargill’s ocean transportation division mentioned. Other major firms are individually trying to unmask the illicit activity.

Ranking 5th on this listing of the top 10 largest oil tanker firms is DHT Holdings Inc, a Bermuda-based independent crude oil tanker company that provides transportation companies to grease companies. DHT fleet trades internationally and consists of crude oil tankers in the VLCC segment. DHT operates by way of integrated management companies in Monaco, Singapore, and Oslo, Norway. DHT Holdings Inc generated USD 754.four million and has a present market cap of USD 898.four million — making it one of many top oil tanker corporations on the earth by revenue and market cap in 2020. Ranking 4th on this record of the highest oil tanker corporations is Frontline Ltd., one of many world’s largest oil tanker shipping firm. Frontline Ltd. is a Bermuda-based oil tanker firm y that’s focuses on transporting crude oil.

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