Chinese tanker takes in 2 million barrels of crude at Iranian terminal

amoy

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PressTV - Chinese tanker takes in 2 million barrels of crude at Iranian terminal
A Chinese supertanker with the capacity to carry two million barrels of crude has docked and embarked at an Iranian port, the first such move since the European Union imposed sanctions on Iran's oil in July.


Over the past six months, China has depended on National Iranian Tanker Company (NITC) for the delivery of Iran's crude oil to its refineries.

Official figures show that China imported nearly 410,000 barrels of crude from Iran in January and February this year, up two percent from a year ago.

"As far as I can see, this is the first confirmed visit to an Iranian port by a Chinese-owned crude oil carrier since the ban," said Richard Hurley, senior maritime data specialist at IHS Fairplay.

The ship has been insured by Skuld, a company based in Oslo, for protection and indemnity risks, according to the insurer. The company said its cover for any vessel would terminate if it had to face sanctions due to EU laws regarding Iran's oil. However, Skuld did not verify if its cover for the Chinese oil carrier has been excluded.

"We insure ships on a yearly basis and do not usually know what particular activity a ship is engaged in at any one time," Skuld said in its statement. "In general we only become aware of a particular ship's location and cargo if there is an incident giving rise to a claim. An owner is not obliged to inform Skuld about the trade he is conducting with the vessel."
 

satish007

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Re: Chinese tanker takes in 2 million barrels of crude at Iranian term

India leads the list of countries ignoring Iran sanctions
India leads the list of countries ignoring Iran sanctions
By Joel Brinkley
A new US government report lists 22 nations that maintain significant business relationships with Iran, despite new United Nations sanctions and even more restrictive laws enacted in Europe and the United States...

Among the 22 states are the usual bad actors, including China and Russia — even Belarus. But one state dominates the list; one state allows more companies to do business with Iran than any other: India.

Shortly after the US enacted new sanctions last month, India's foreign minister complained that the US law would "have a direct and adverse impact on Indian companies and more importantly, on our energy security." The country's petroleum secretary, S Sundareshan, added: "You would appreciate that there are immense opportunities in the oil and gas sector in Iran," and "we would certainly like to utilise these opportunities without sanctions."

Right away, India reopened negotiations with Iran to build a $7.4 billion natural-gas pipeline between the two states. Indian newspaper editorials cheered the decision and grumbled about foreign interference.

UN sanctions are not law, and all of the states openly doing business with Iran are developing oil fields or buying oil, natural gas and other petroleum derivatives, which do not necessarily violate the new sanctions. Still, energy companies in Italy, Norway and Spain, among others, immediately cancelled oil and natural-gas development projects worth tens of billions of dollars.

The US federal report, by the government accounting office, said one Indian company, Ashok Leyland Project Services, wrote to Washington last month saying it had "had not made binding agreements" with Iran and would strive to comply with US law. In December, however, Ashok Leyland and another Indian company announced in a press release that they had signed "broad enabling agreements with the Iranian authorities concerning development of gas fields and liquefaction facilities in Iran."

India is certainly not the only state that acts with little regard for the consequences in other nations. But India is the world's largest democracy, an important player in the high-technology world and is generally viewed, like China and Brazil, as one of the world's rising powers.

What's more, India is campaigning hard to become a permanent member of the United Nations Security Council. So wouldn't you expect India to behave as if it cared about the rest of the world?
 
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satish007

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Re: Chinese tanker takes in 2 million barrels of crude at Iranian term

India is China spiritual leader
 

ericliang313

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Re: Chinese tanker takes in 2 million barrels of crude at Iranian term

India is China spiritual leader
That it is, beyond doubt.
"India conquered and dominated China culturally for 20 centuries without ever having to send a single soldier across her border."
- 胡適 (Hu Shi)
 

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