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OIL
The number of vessels that loaded sanctioned Iranian and Venezuelan crude has seen a 3% increase so far this year and has increased 13% in terms of capacity according to Kpler.
- The gains are mainly driven by the increase in Iranian crude exports partly due to relaxed US sanctions enforcement and the resurgence of Venezuelan crude exports to the US.
- The large increase in capacity is attributed to a more significant rise in the number of VLCCs loading sanctioned cargoes compared to smaller tonnage vessels.
- The number of VLCCs involved in these loadings increased by 30% y/y.
- VLCCs are “used more for direct voyages from Iran and shuttling crude to and from Eastern Outside Port Limits (EOPL), an anchorage East of Singapore and Malaysia often used for sanctioned cargoes,” said Kpler.
Source: Kpler
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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