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‘Dark’ ships are faking their locations to move oil around the world — and it's likely worth billions of dollars

From cnbc.com

Ships are faking their locations to engage in illicit activity — and rising numbers appear to be doing so to trade goods that are likely to be worth billions of dollars. So-called “dark vessels” shipping Russian oil in a suspected evasion of the G7′s $60 a barrel price cap, tankers going under-the-radar in Venezuelan waters, and cargo ships allegedly smuggling grain from Ukraine are being uncovered by satellite technology that can identify when vessels report a false location. Large ships have to be fitted with automatic identification systems (AIS) and must broadcast their locations to prevent collisions, per ... (full story)

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  • Category: Fundamental Analysis