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OIL: Sanctioned Iranian Oil Heads to Other Chinese Ports

OIL
BulletEnergy BulletsCommodities

Shandong’s sanctioned tanker ban has temporarily slowed Iranian crude discharges and diverted vessels to other sanctioned ports Vortexa tracking shows. 

  • Ports outside Shandong province have not implemented any shipping bans and may continue to serve sanctioned tankers.
  • Iranian oil transported on non-sanctioned tankers can still discharge at ports operated by the Shandong Port Group.
  • Iranian crude imports into Shandong have slowed to 650kbd during January 7–25, compared to over 1.1mbd in 2H 2024. (see chart)
  • Iranian crude discharged at non-Shandong ports is being stored in commercial tanks and will likely be reloaded for Shandong  teapot refiners through intra-China flows as potential workarounds emerge. 

 

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Shandong’s sanctioned tanker ban has temporarily slowed Iranian crude discharges and diverted vessels to other sanctioned ports Vortexa tracking shows. 

  • Ports outside Shandong province have not implemented any shipping bans and may continue to serve sanctioned tankers.
  • Iranian oil transported on non-sanctioned tankers can still discharge at ports operated by the Shandong Port Group.
  • Iranian crude imports into Shandong have slowed to 650kbd during January 7–25, compared to over 1.1mbd in 2H 2024. (see chart)
  • Iranian crude discharged at non-Shandong ports is being stored in commercial tanks and will likely be reloaded for Shandong  teapot refiners through intra-China flows as potential workarounds emerge. 

 

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