A 27-year-old crude tanker reportedly scrapped in 2021 is set to arrive in Venezuela by the end of this week, according to ship-tracking data — the latest example of how the South American country keeps its battered oil industry alive. Operating under the identity Freesia I, the tanker is most likely a "zombie vessel," meaning another tanker is in fact assuming the identity of a dismantled ship. This tactic is occasionally used by vessels carrying sanctioned oil to obscure their routes and cargoes.
Venezuela's oil industry, once a global powerhouse, has been devastated by years of sanctions and underinvestment. Even so, the country continues to export — mostly to China — thanks to some of the oldest and murkiest tankers in the global fleet. This effectively serves as a maritime lifeline for both the economy and the government of Nicolas Maduro. According to analytics firm Kpler, Caracas has shipped close to 900,000 barrels per day so far this year — only a fraction of past volumes, but enough to provoke the most aggressive sanctions enforcement to date by the Trump administration.
"Venezuela has been remarkably effective at masking both origin and ownership of crude and therefore at evading financial and trade-related controls," said Dimitris Ampatzidis, senior risk and compliance analyst at Kpler. "That's why Washington has increasingly moved from purely financial measures to physical disruption." From a supply chain perspective, U.S. forces have struck alleged drug-smuggling boats in the Caribbean, and since early December have chased or boarded three tankers connected with sanctioned trade.
From a supply chain perspective, these zombie vessel cases pose serious traceability and insurability problems for the global maritime sector. Manipulation of AIS (Automatic Identification System) data, duplication of IMO numbers and fraudulent flag registrations are radically reshaping the risk profile for marine insurers and charterers alike. Major crude buyers required to comply with sanctions are being forced to adopt much tighter origin verification and vessel history due diligence procedures.
