Here Comes The Oil Glut: First Iranian Oil Tanker Sets Sail

Amid what is being reported as worrying discrepancies between the U.S. and Iranian interpretations of what had been agreed, an Iranian supertanker with 2 million barrels of oil is on its way to Asia after sitting in Iranian waters for months, likely to be the first vessel holding floating excess stocks to sail after the nuclear deal.

 

 

As David Sheppard (@OilSheppard) explains,

  • Vessel is the Starla from Iran's NITC. Loaded at Iran's Kharg Island terminal just over a month ago before going dark  
  • Appeared labelled as sailing to Iraq's Basrah on June 8 - a smuggling tactic UK insurers have warned of in past  
  • Starla now listed as sailing to Singapore - which doesn't have a waiver from US to take any Iranian oil   
  • If this is Iran (tanker owned by NTIC) sending message would be very interesting.
  • Tanker was in floating storage/off radar for month 
  • So interesting that Iran oil sailing to country that US does NOT allow to import Iran oil

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Smugglers? Or Iran sending a message?