Bloomberg: The fewest supertankers in at least eight months were headed for Iran as the deadline neared for a Europe Union embargo against the nation’s oil, ship-tracking data showed.
Bloomberg
By Isaac Arnsdorf
The fewest supertankers in at least eight months were headed for Iran as the deadline neared for a Europe Union embargo against the nation’s oil, ship-tracking data showed.
The Daylam, owned by Tehran-based NITC Co., was the only very large crude carrier signaling a future destination in Iran, according to IHS Inc. data compiled by Bloomberg. That’s the fewest ships since at least October, based on a weekly snapshot of the global fleet’s movements. The latest signals from 23 NITC tankers are more than a week old, data showed.
International tanker owners are avoiding Iran because carrying the country’s crude will cause them to lose insurance under EU sanctions taking full effect July 1. Iran is under pressure to stop a nuclear program that the U.S. and Europe suspect involves weapons development and will export 1.2 million barrels a day starting next month, down from 2.2 million last year, Barclays Plc estimates.
The following table shows the destinations and combined carrying capacity in deadweight tons of 419 VLCCs, out of a global fleet of 566, according to data compiled by Bloomberg. Average drafts are expressed as a percentage of maximum sailing depth and are an indication of cargo size. Each country’s percentage share of total oil shipments is shown for the current and previous weeks.
Destination Capacity Draft Share Last Share
(June 8) (June 1)
United Arab Emirates 24,743,829 54 19.4 18.9
China 15,419,723 89 12.1 12.4
Singapore 12,500,556 65 9.8 11.8
United States 9,844,885 94 7.7 6.8
Japan 9,122,785 86 7.2 6.6
South Korea 7,894,782 90 6.2 6.5
Saudi Arabia 7,342,083 51 5.8 4.3
Angola 6,107,753 55 4.8 4.8
India 3,342,335 94 2.6 3.1
Qatar 2,449,772 67 1.9 1.4
Taiwan 2,345,309 88 1.8 1.9
Kuwait 1,852,051 55 1.5 1.7
Iraq 1,820,931 50 1.4 1.9
Egypt 1,820,830 96 1.4 1.6
Nigeria 1,487,321 50 1.2 0.7
Netherlands 1,244,820 93 1.0 1.2
Venezuela 935,586 49 0.7 0.7
Thailand 916,385 87 0.7 1.2
Indonesia 899,159 93 0.7 0.0
Brazil 607,869 77 0.5 0.5
Malaysia 309,327 92 0.2 0.4
Oman 302,550 52 0.2 1.2
Iran 299,500 50 0.2 1.7
Other 13,726,617 65 11.0 8.7
Total 127,336,758
