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An unknown Chinese merchant spends $376 million on 13 cargo ships for risky Russian oil transfers on the high seas, report says

1 month ago   |   By Business Insider

Photo by ANGELOS TZORTZINIS/AFP via Getty Images
An anonymous Chinese firm has spent $376 million on 13 tankers to execute ship-to-ship transfers of Russian crude in the mid-Atlantic.
All 13 ships are linked to the same office building in Dalian, China, according to maritime intelligence site Lloyd's List.
The fleet represents the core of a new, high-risk transshipment hub for Russian crude off the west coast of Portugal.
An anonymous Chinese merchant has spent $376 million on 13 tankers to execute ship-to-ship transfers of Russian crude in the mid-Atlantic, data from maritime intelligence...
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