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8 Iranian STS Oil Transfers Bound for China Spotted: TankerTrackers

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TankerTrackers has flagged a record level of 8 pairs of ships performing ship-to-ship transfers totalling 16mn bbls of Iranian oil today in the Riau archipelago in the South China Sea – all bound for China.

  • “This is happening on the back of a recent record month in oil exports.” TankerTrackers said.
  • China will be the main beneficiary of recent US sanctions on Iran and Venezuela, which are expected to deepen the discounts on crude oil, according to Kpler earlier this week.
  • The impact is expected to be more pronounced on Iranian grades, which have seen sustained price increases in recent months which had been putting off China buyers at the start of the year along with upfront payment requirements.
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TankerTrackers has flagged a record level of 8 pairs of ships performing ship-to-ship transfers totalling 16mn bbls of Iranian oil today in the Riau archipelago in the South China Sea – all bound for China.

  • “This is happening on the back of a recent record month in oil exports.” TankerTrackers said.
  • China will be the main beneficiary of recent US sanctions on Iran and Venezuela, which are expected to deepen the discounts on crude oil, according to Kpler earlier this week.
  • The impact is expected to be more pronounced on Iranian grades, which have seen sustained price increases in recent months which had been putting off China buyers at the start of the year along with upfront payment requirements.