Gatik Ship Management and their story
Gatik Ship Management owned just two chemical tankers in 2021. By April, it had acquired a fleet of 58 vessels with an estimated combined value of USA 1.6 billion, The Financial Times report cited shipping experts’ Vessels Value.
Though the origins and ownership of the business is quite a mystery its bills, its bills, and other records are quite scant.
The group was registered as an exporter here in India on March 2023 but there are no official records to be found of that as well.
A Financial Times analysis of data from Kpler, an analytics company, shows the Indian group has shipped at least 83 million barrels of Russian crude and oil products — enough to meet total UK oil demand for more than two months.
More than half of that has come from Rosneft. Indian oil Total figures are believed to be even more significant than those in Kpler’s data set.
“It was inevitable after the West’s sanctions that the Russian oil companies would want to get into shipping and I think Gatik is the ultimate example of this happening,” said Viktor Katona, head of crude analysis at Kpler, the report said.
Vessels Value, which tracks tanker sales, calculates that Gatik has acquired at least 56 vessels since March 2022, including 13 vessels in December alone when the EU’s embargo on Russian oil began.
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The purchases put Gatik among the largest tanker owners in the world, according to Vessels Value’s Rebecca Galano Poulos.
“To put this into perspective, out of almost 14,000 live tankers, the majority of these companies 1,361 own fewer than 10 live tankers; only 20 companies, including Gatik, own 50 or more
The matter of oil between Countries
After China and the United States, India is the third-largest oil user in the world. It now imports a significant amount of crude oil from nations like Saudi Arabia, Iraq, and Iran due to its increasing oil demand. The fact that a company in India is right now buying oil from Russia shows that the country is diversifying its sources of energy.
Russia and India are likely to both gain from this action. Diversifying India’s oil supplies will enable it to lessen its reliance on Middle Eastern oil, frequently the target of geopolitical unrest. Russia will be able to broaden its client base and lessen its reliance on established markets like Europe by supplying oil to India. The fact that an unnamed Indian business is carrying millions of barrels of Russian oil, in conclusion, provides proof of the changing nature of the global oil market. It emphasizes the expansion of India as a significant player in the market and the diversification of oil supplies for both Russia and India. Although the company’s identity is unknown, its impact on the world’s oil market cannot be ignored
