Part 5/8:
Recent analyses reveal an alarming upward trend in the number of ship-to-ship transfers occurring in the South China Sea, where oil is transferred between vessels in international waters. In 2024, the percentage of vessels involved in these transactions surged from 5% to over 10%. Estimates suggest that 350 million barrels of oil may have exchanged hands in just the first nine months of this year—a staggering $20 billion value per reports. This intensifying trade, supported by clever evasion techniques like switching off AIS, raises critical questions regarding maritime regulations and environmental safety.