9 LMM V I S I O N ISSUE 21 | Q2 2025 ARTICLE Merchant vessels operating near Russia’s western ports are navigating increasingly dicey waters. In early 2025, the Suezmax tanker Koala was rocked by three powerful explosions—likely the work of limpet mines—while loading heavy fuel oil at the Ust-Luga terminal. Although no oil was spilled, the hull damage underscores the peril: such underwater explosives threaten hull integrity, steerage, and crew safety. On a separate front, the Eco Wizard tanker’s engine room was flooded in what is believed to be another limpet-mine attack during its ammonia loading—marking the sixth such incident this year. These are just two of the limpet-mine related incidents this year, with other vessels that had previously laden Russian oil being targeted, as far as within Mediterranean ports and waters. Add to that the August 24 drone strike on Novatek’s Ust-Luga gascondensate facility—part of Russia’s shadow fleet logistics—and the danger has grown from offshore mines to airborne threats. The blaze that followed disrupted processing and export operations, further unsettling maritime logistics. Thankfully, merchant ships in port at the time of attack—one of which was a Company vessel—were not affected as they were not directly targeted; nevertheless, the risk, as calculated by the Security Department, remains tolerable as such attacks are rare. Ukraine appears to have shifted its strategy into high gear. Since at least January 4, 2025, the Security Service of Ukraine (SBU) deployed long-range drones to strike oil and gas infrastructure at Ust-Luga, causing significant operational damage. Earlier this year, tanker sabotage using limpet mines surged, targeting vessels servicing Russian export routes—including those tied to the “shadow fleet”; a large, mostly older fleet of oil tankers that Russia (and other sanctioned states like Iran) uses to secretly transport crude oil and petroleum products around the world while dodging Western sanctions.). The current threat profile by the Security Department for the Baltic region indicates that, our Fleet vessels as well as the majority of the—hundreds monthly—merchant ships calling Ust Luga and Primorsk, are at a tolerable level of risk. “Shadow fleet” ships tend to be the preferred targets most of the time, while the ports themselves are stepping-up their security measures, including but not limited to underwater searches of vessels to detect the presence of limpet mines. The Company remains committed to the safety of the Fleet vessels and the seafarers working on them, and monitors the situation in the Baltic region daily. Should the Risk increase to such a degree that the safety and security of the vessels cannot be guaranteed, we shall ensure that no vessels approach the area until the Risk is again Tolerable – just as we have done since 2024 for the Southern Red Sea region. Coastal Crosshairs: Merchant Shipping Caught in the Ust-Luga and Primorsk Strike Zone Capt. Kostas Bourliaskos CSO
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