Tanker company Gatik, which carries Russian oil, has lost industry-standard fleet insurance after violating price caps set by the G7. Writes about this agency Bloomberg.
The media indicates that Gatik is in Mumbai. India, as recalled by the agency, did not join the price cap and did not impose sanctions on Russian oil.
According to VesselsValue, Gatik has started building up its fleet since the summer of 2022. When a Bloomberg representative visited the address where Gatik was supposed to be in early 2023, a nearby office employee said the company had moved out. There is no website, phone number, or other way to contact the company.
Bloomberg writes that Gatik management lost the so-called protection and damages that were provided by the American Club. According to the source, the insurance coverage protects against risks, including collisions and spills.
It was terminated due to the receipt of information that Gatik plans to transport cargo at a price above the threshold. The American Club confirmed the termination of insurance, without giving a reason, the agency said.
Source: Rosbalt
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