Asia/Pacific News
Indian Coast Guard Details Tankers Off Mumbai for Alleged Oil Smuggling
The Indian Coast Guard (ICG) has detained three tankers off Mumbai over an alleged oil smuggling operation involving ship-to-ship (STS) transfers of crude.
The vessels were intercepted on Thursday, approximately 100 nautical miles west of Mumbai, the Indian Ministry of Defence said in a press release on Friday.
“Sustained rummaging of the vessels, corroboration of electronic data recovered onboard, verification of documents, and detailed interrogation of crew members enabled the ICG specialist boarding teams to establish the complete chain of events and confirm the criminal modus operandi,” the ministry said.
The ministry alleges the vessels were operating in illegal operations involving the transport of cheap oil.
“The smuggling syndicate employed a modus operandi wherein cheap oil was transported by seagoing vessels and transferred mid-sea to motor tankers in international waters,” the ministry said.
“Initial investigations revealed that the syndicate comprised handlers operating across multiple countries, coordinating the sale and transfer of cargo between vessels at sea.”
The vessels are likely to be escorted to Mumbai for further investigation.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 489.50 | 0.50 | 674.00 | 2.50 |
| Rotterdam | 450.50 | 7.00 | 694.50 | 1.50 |
| Houston | 457.50 | 0.00 | 657.00 | 2.50 |
| Fujairah | 471.00 | 8.50 | 748.50 | 7.00 |
| APAC Average | 541.50 | 1.50 | 758.50 | 1.00 |
| Global 20 Ports Average | 508.50 | 1.00 | 769.50 | 2.00 |
| Global 4 Ports Average | 467.00 | 4.00 | 693.50 | 1.00 |
| Global Average Bunker Price | 539.50 | 1.00 | 799.50 | 3.50 |
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