Iran General NewsIran seen drawing fewest tankers since October as sanctions...

Iran seen drawing fewest tankers since October as sanctions loom

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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

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