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| Syria-Lebanon-Iran |
| Iranian tankers stranded by threat of US sanctions |
| 2018-09-14 |
| [ARABNEWS] Two tankers carrying Iranian condensate, a type of ultra-light oil, have been floating off the UAE for about a month as demand for the oil fell ahead of US sanctions. The tankers, carrying about 2.4 million barrels of South Pars condensate combined, were stranded after South Korea halted imports from Iran and China’s demand fell during summer, according to industry sources and shipping data. The build-up in Iranian oil supplies underscores the pressure that Iran is facing as Washington aims to bring Iranian oil exports down to zero to force Tehran to re-negotiate a nuclear deal. The Very Large Crude Carrier (VLCC) Felicity loaded condensate at Iran’s Assaluyeh port in early August and then set sail for Jebel Ali in the UAE, shipping and trade flows data on Thomson Rooters Eikon showed. It arrived at the ship-to-ship transfer area off Dubai on Aug. 7 and has been anchored there since. Similarly, the Suezmax tanker Salina also loaded oil at Assaluyeh and has been circling in the same area off Dubai since Aug. 17, according to the data. Oil processors in South Korea, Iran’s top customer for South Pars condensate, halted Iranian oil liftings in July as banks, insurance and shipping companies wound down business related to Iran before US sanctions on the country’s petroleum sector kick in on Nov. 4. China typically cuts South Pars condensate imports in the summer because of its foul smell, the sources said. |
| Posted by:Fred |
| #6 Especially if it was RA dirty. |
| Posted by: Skidmark 2018-09-14 11:14 |
| #5 Of course, blowing that much crude at two primary offloading port facilities used by the US Navy carrier groups would put a dent in ME naval operations. |
| Posted by: Skidmark 2018-09-14 10:59 |
| #4 Can't imagine this much volume is shipped COD. Would think it was prepaid to include transport costs. |
| Posted by: Skidmark 2018-09-14 10:49 |
| #3 I suspect the lack of demand has been created by Saudi production increases. Got give Trump and Bolton credit for planning the sanctions to disrupt oil supply as little as possible. Oil futures are steady at $68.88. |
| Posted by: jvalentour 2018-09-14 08:11 |
| #2 It's as if the entire article was written by 'journalists'. |
| Posted by: SteveS 2018-09-14 02:22 |
| #1 Funny how the first two sentences completely contradict the headline and point to a lack of demand instead... |
| Posted by: Raj 2018-09-14 00:31 |