from Google AI:
The combined value of a shadow tanker and its cargo typically ranges between $50 million and $170 million, depending heavily on the size and type of the vessel. Because shadow tankers are vintage, aging ships (often 15 to 25 years old) that are purchased cheaply through shell companies to evade sanctions, the value of the cargo almost always vastly eclipses the value of the ship itself. [1, 2]A breakdown of the specific asset values highlights this disparity:1. The Cargo Value ($40 Million to $135 Million)The cargo represents the vast majority of the total value. Shadow tankers primarily carry crude oil from heavily sanctioned nations like Russia, Iran, or Venezuela. [1]
- Aframax / Suezmax Tankers (Smaller-to-Mid Size): Typically transport around 700,000 to 1,000,000 barrels (approx. 100,000 metric tons) of crude oil. At discounted market rates (e.g., Russian Urals trading below global benchmarks), a single cargo load is usually worth $40 million to $110 million. For example, the seized shadow tanker Eventin carried a cargo valued at roughly $43.3 million, while the drone-struck Altura carried a cargo valued at $109 million. [1, 2, 3]
- Very Large Crude Carriers (VLCCs / Supertankers): These massive ships carry up to 2 million barrels of oil. A full load on a shadow VLCC is generally worth $120 million to $135 million. [1]
2. The Vessel Value ($10 Million to $60 Million)
- Smaller / Older Hulks: Aging, decrepit tankers nearing scrap value or suffering from maintenance neglect are often valued between $10 million and $25 million. [1]
- 10 to 15-Year-Old VLCCs: Operators looking for high-capacity "workhorses" pay higher prices for larger secondhand vessels, with 15-year-old VLCCs commanding around $55 million to $60 million on the open market
