Gatik Ship Management, a company based in Mumbai, India, which used to be known for rapidly growing its fleet and playing a significant role in transporting Russian oil, has now become more visible. The company had gained attention for its involvement in Russian oil shipments during the conflict with Ukraine. It quickly expanded its fleet to over 60 ships valued at more than $1.5 billion.
However, in recent months, Gatik has downsized its fleet even faster than it initially grew it. According to Equasis, a maritime database, the company currently doesn’t have any vessels in its possession. On the other hand, VesselsValue, an online platform that tracks vessel prices, still indicates that Gatik Ship Management owns more than 60 ships.
Despite the conflicting information from Vessels Value, Gatik has chosen this moment to reintroduce itself. The company has released its first official statement, launched a new website, and revealed a new logo. The press release emphasizes Gatik Ship Management’s commitment to social responsibility, highlighting its efforts to offer affordable cargo services and create opportunities. The company also claims to have played a significant role in stabilizing fuel prices in India.
The press release also discusses Gatik’s operations in Dubai, where the company has reportedly been involved in philanthropic activities aimed at assisting the underprivileged.
Regarding the decision to reduce its fleet, the company explains that while it had achieved notable successes, it also faced challenges. Controversies sparked by media attention led the company to sell off its vessels, resulting in significant losses due to changes in insurance, flags, and classifications.
Gatik Ship Management had gained notoriety as one of the key players in the “dark fleet” of tankers that expanded following Russia’s invasion of Ukraine. Much of its fleet has since been transferred to companies based in Turkey.