Chapter 1: What impact do oil sanctions have on sailors and shipping?
The oil sanctions leaving sailors cut adrift. Live from the UK, this is the Marketplace Morning Report from the BBC World Service. I'm Stuart Clarkson. Good morning. The US has been clamping down on the Shadow Fleet, ageing merchant ships which are used to evade international sanctions by transporting illicit goods.
Russia is accused of using ships like these to make money by selling sanctioned oil. The International Transport Workers Federation says the rise in the Shadow Fleet could be fuelling a surge in something called seafarer abandonment, where crew are left stranded without food and pay. There can be other reasons too, like geopolitical instability or if an operator goes bust.
This happened to 410 ships last year, up by a third, leaving more than 6,200 seafarers stranded. The BBC's David Waddell has spoken to one sailor still aboard his stranded oil tanker. We're not identifying the location of the ship or the name of the captain.
Chapter 2: How does the Shadow Fleet operate to evade sanctions?
He was on a Shadow Fleet vessel. He's a senior officer on a mid-sized oil tanker flying a false Gambian flag, essentially unregistered. And I understand this is the world's first broadcast interview from a Shadow Fleet vessel. He told me about the conditions he and his crew are experiencing. We're still a tanker out of port limit, still waiting. Also, we have a problem with dependent salary.
It's not transferring for more than two months. Now we already receive for the November and are waiting on this week for December. We have a shortage with meat, grain, fish, these simple things. For surviving, we have shortages, you know. This is effective on our health, on our operational atmosphere. The crew was hungry, the crew was angry, and we tried to survive only day by day.
So we spoke for about 10 minutes and then his internet connection cut off.
Chapter 3: What is seafarer abandonment and how is it related to oil sanctions?
So he was not just short of food, but also short of data. So what about the cargo? Why can't they get it delivered? This ship's carrying 100,000 tonnes of oil, nearly three quarters of a million barrels. Ordinarily, that would be worth around 47 million US dollars, but it's Russian sanctioned oil. In effect, it's It's untradeable.
And as we've seen over the past couple of months, the US is getting much more proactive about tracking down shadow fleet ships like this. They can't just dump the oil. They can't sell it either. We are taking crude oil from Russia and proceeding to discharge it to the east side of China. We still don't know what the destination is exactly. Our official letters, no one replied.
It was also very difficult for us Because we don't know what we will expect, what the next provision comes, when the salary comes, when the vessel will go for discharge. So totally quiet, totally silent from the ship operator.
David Waddell reporting there. Let's do the numbers. India's biggest airline, Indigo, has seen a 75% drop in third quarter profits after one of the country's worst aviation crises. It had to cancel thousands of flights in early December due to poor roster planning. And shares in the Swedish telecoms gear maker Ericsson were up 11% this morning after it reported better than forecast earnings.
It's planning to return $1.7 billion to shareholders.
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Chapter 4: What conditions are sailors facing on stranded oil tankers?
Now, when we think of the big car manufacturing nations, countries like Japan, the US or Germany usually spring to mind. So you might be surprised to learn that Slovakia in Eastern Europe makes the highest number of cars per capita, almost a million a year in a country of just five million people. The BBC's John Lawrenson has been there to see how it became a car making powerhouse.
This is the European factory of the Korean car manufacturer Kia, just outside the Slovak city of Jilina. 3,700 people work here, including assembly line worker Simona Krneva, 23. She works on the doors. She studied business before coming here. She tells me it's not her dream job, but it has its good points.
Half of my family works here, so I wanted to try. I like the people. I like working with people.
Salary's OK?
Yes, it's very good in comparison with other companies. I earn about 1,300.
Euros a month, just over $1,500. Lower than the average salary in the factory, which Kia tells me is almost twice that. When Slovakia was part of the Czechoslovak Socialist Republic, the cars it made were, by Western standards, shoddy, noisy, thirsty and slow. But after the Velvet Revolution, a non-violent transition of power in 1989, sent its communist rulers packing.
and the Czechs and Slovaks agreed to split into two independent countries. Volkswagen bought and overhauled the old Czechoslovak carmaker Skoda, and other foreign automobile manufacturers moved in too. Peugeot Citroën, now Stellantis, Kia, Jaguar Land Rover, and now Volvo. Peter Prokop is the Czech-German head of GIV, a management consulting firm that advises clients in the automotive sector.
The labour cost was 20% of the labour cost in Germany. On the beginning, definitely. Is it still a good bet going to Central Europe? Yes, maybe. On one hand... You have still lower wages. I would say 60% of the Western wages in Eastern Europe still. But you have also high productivity. So it's definitely competitive.
The president and CEO of Kia Europe is a Frenchman called Marc Andriche. I asked him why Slovakia.
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