The Financial Times has reported that a mysterious Mumbai-based company named Gatik Ship Management has been shipping large quantities of Russian oil.
A mysterious Mumbai company registered as an exporter only on March 31 this year, has grown into a giant of international oil shipping in the last 18 months, Financial Times has reported.
The company, Gatik Ship Management, has purchased more oil tankers than any other company since Russia invaded Ukraine last year.
The reports says that Gatik owned “just two chemical tankers in 2021” but by last month, it had 58 vessels, worth $1.6 billion.
There is little by way of records on the company, which is yet to appear on India’s official corporate registry.
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“One important clue is that Gatik shares an address in the dreary shopping mall with Mumbai-registered company Buena Vista Shipping, another little-known operation that two years ago reported a little over $100,000 worth of assets,” the report says, observing that who owns either the mall or funded Gatik is mired in mystery.
“Go First” has filed for bankruptcy with the National Company Law Tribunal in Delhi. Billionaire Nusli Wadia is blaming US engine maker Pratt & Whitney for the situation.