Norway Charges 4 In Fake Maritime Insurance Scam Linked To Russia’s Shadow Fleet

Norwegian authorities have exposed a fraudulent maritime insurance scheme linked to Russia’s shadow fleet, charging four individuals with forgery and operating an illegal insurance business.

The scam, planned by a company called Ro Marine AS, has raised serious concerns about the risks posed by unverified shipping insurance in global trade.

The investigation, conducted by Norwegian state broadcaster NRK and watchdog Danwatch, revealed that Ro Marine had been issuing fake insurance documents to vessels operating within Russia’s shadow fleet.

The company falsely claimed to be a legitimate maritime insurer, allegedly covering over 250 ships. However, authorities found that it was nothing more than an empty shell, lacking real operations, financial records, or employees, except for its Russian owner, Andrey Mochalin, and a Bulgarian board member.

The scam was first reported in September 2024 when a Ghanaian insurer contacted Norway’s Financial Supervisory Authority (FSA) to verify a suspicious insurance document.

The document bearing the FSA’s logo and an official-looking stamp, appeared genuine at first glance.

However, further scrutiny revealed red flags: the company did not exist in 2016, as the document claimed, references were made to non-existent Norwegian laws and the signature belonged to a person who had never worked at the FSA.

According to maritime risk analyst Dimitris Ampatzidis, shadow fleet operations are increasingly shaping regulatory scrutiny and financial risks.

Kpler, a maritime analytics firm, reports that sanctioned vessel operations have doubled since early 2023, with over 600 sanctioned ships operating under high-risk flags.

The use of fake insurance, class certificates, and flag-hopping tactics complicates enforcement and increases the likelihood of environmental and financial disasters.

Ro Marine presented itself as a Norwegian company, even listing its address as the Norwegian Shipowners’ Association building in Oslo, a claim that the association has since refuted.

When officials attempted to contact Ro Marine to correct this false information, they received no response. Investigations later found that the company’s website was operated from St. Petersburg, Russia, and its branding materials were created by a Russian design firm.

Authorities have identified at least 255 ships that Ro Marine claimed to insure. Of these, 76 have been directly linked to Russia’s shadow fleet, with many regularly sailing through the Baltic Sea under questionable documentation.

In March 2025, Finnish authorities inspected the oil tanker Achilles, a 245 meter long vessel carrying 100,000 tons of oil from the Russian port of Primorsk.

The ship presented insurance papers from Ro Marine, supposedly approved by the Norwegian FSA. However, upon further investigation, both the insurance and the regulatory approval were found to be forgeries.

The Danish Maritime Authority has since acknowledged difficulties in verifying Ro Marine’s certificates and is now working with Norwegian authorities and flag states to take action.

Ships found to have provided false insurance information may face sanctions.

According to maritime law expert Kristina Siig, fraudulent insurance practices completely undermine the international system for preventing oil disasters.

She added that proper insurers typically verify a vessel’s safety before providing coverage, something that fraudulent companies like Ro Marine fail to do.

After the investigation, Norwegian police searched an address in Oslo on March 21, 2025. Authorities have since charged four individuals with document forgery and illegally operating an insurance brokerage without an FSA license.

The accused include Ro Marine’s Russian owner, Andrey Mochalin, the Bulgarian board member, and two Norwegian business associates.

Per sources, Mochalin and his Bulgarian associate are also being investigated for possible violations of Western sanctions.

Ro Marine initially claimed that only one person could address the allegations but was unavailable due to illness. However, after journalists began probing the case, several ships were quietly removed from the company’s website.

As of March 23, 2025, Ro Marine continued adding new shadow fleet vessels to its database.

In recent years, the share of the global merchant fleet insured by the 12 P&I clubs of the International Group has dropped from 95% to 86%. Similarly, the number of ships classed by the International Association of Classification Societies (IACS) has declined to 92%.

Over 5,000 vessels, representing 14.5% of the global merchant fleet, operate under flags with low ratification of International Maritime Organisation and International Labour Organisation conventions.

Harvard University sanctions expert Craig Kennedy has warned that sham insurance directly violates international conventions and poses risks for all coastal nations.

Reference: Danwatch

Source: Maritime Shipping News