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The boss of the world’s largest publicly listed oil tanker operator has accused the UN maritime rule-setting body of being “asleep at the wheel” over the growing black fleet of unregulated vessels, saying that it was “only a question of time” before a significant disaster occurred.

Lars Barstad, chief executive of Frontline, also criticized European governments for failing to implement rules intended to reduce oil sales to Russia, saying they were worried about pushing up energy prices.

The number of dark fleet vessels has grown to about a fifth of the world’s fleet after Russian-linked owners bought hundreds of older vessels to avoid curbs on western countries’ oil trade in country.

The potential for disaster was illustrated in July when the Hafnia Nile, a tanker operated by Singapore-based Hafnia, collided with the Ceres I, a black-hulled tanker carrying Iranian oil, in waters off Malaysia.

According to a subsequent notification of US Treasury sanctions against the owners of Ceres I, during the collision the ship’s radar system broadcast an inaccurate location – a common tactic for dark ships trying to hide their activities.

Dark fleet vessels, which carry oil from Iran and Venezuela as well as Russia, are often owned by offshore companies whose ownership is unclear and often lack adequate insurance. They are often registered under the flags of countries that do not enforce the rules regarding regular safety inspections.

Barstad said he was “very concerned” about the growth of the dark fleet, which he said had encouraged many “illegal operators” to make a “crazy amount of money”.

He added that the International Maritime Organization (IMO), the UN body, does little to ensure the enforcement of its safety and environmental regulations.

“All these vessels . . . doing business outside the IMO framework,” Barstad said. “They have been asleep behind the wheel for a long time regarding tankers.”

There have been reports of other, as yet unconfirmed incidents besides the Ceres I collision, Barstad added. “I’m very surprised we don’t have more incidents like this,” he said. “I think it’s just a question of time until we get a big one.”

A ship like the Ceres I – carrying 2 million barrels of crude oil – could split in two in a future incident, he said.

“That would make the environment a bigger problem,” Barstad said. “It could happen any day – and then the biggest problem is that, when that happens, nobody knows who really owns the ship or cargo.”

Shipowners that comply with the regulations, such as Frontline, face disadvantages because many are operating with lower costs in unregulated black fleets, it added. Barstad. He said it shows the lack of politicians to implement the sanctions.

“Politicians decided not to take political risks,” Barstad said, adding that he thought many would fear higher energy prices if oil from Russia, Iran and Venezuela were actually excluded from the international markets.

There have been ongoing proposals that countries such as Denmark – which controls the entrance to the Baltic – and the English Channel countries should inspect and take custody of tankers sailing off their coasts without proper insurance.

Barstad declined to single out specific states but said: “It seems half-hearted the way the implementation is being done. A tough position has to be taken if one is serious about it.”

The IMO said in response to Barstad’s criticism that its general assembly passed a resolution in late 2023 calling on member states to take greater action on fraudulent registration of ships and improve the inspection of ships in port.

It also said that member states have a responsibility to ensure that ships flying their flag comply with the necessary rules and to ensure that ships visiting their ports do the same.