War in Ukraine showed no sign of ending with merchant shipping in the crosshairs in the Black Sea. After Russia pulled out of a United Nations-brokered grain export deal in July, Kyiv created a new export corridor, despite multiple attacks from the Russian military. Russia’s use of the so-called shadow fleet tankers soared in the first half of the year with huge concerns about the safety of this largely unregulated, vintage fleet.

Following an attack by Hamas on October 7, the ...