According to U.S. Customs data, the first of two tankers carrying cargoes of Iranian gasoline seized by the United States, discharged in New York on 29th September 2020, ending a three-month journey.
Fortune, the Iranian tanker, is sailing towards the 12-nm boundary of Venezuela’s territorial seas, bringing its controversial journey to a close.
The US Energy Information Administration’s (EIA) published its January Short-Term Energy Outlook (STEO), forecasting that the Brent crude oil spot price will average $65 per barrel (b) in 2020 and $68/b in 2021 and that the West Texas Intermediate (WTI) spot price will average $59/b in 2020 and $62/b in 2021.
In fact, the Managing Director of the National Iranian Oil Product Distribution Company (NIOPDC)’s Markazi Department recently said that low-sulfur fuel oil needed for the country’s vessels is now fully supplied and distributed by the company.
The bullish reaction in oil prices will likely be limited by Saudi Arabia’s vast quantities of crude in storage, estimated to equal roughly 26 days of current crude exports, said Bjørnar Tonhaugen, head of oil market research at Rystad Energy, following Saturday’s attacks on the world’s largest oil processing facility.
An Iranian representative to London announced that the oil cargo of tanker Adrian Darya 1 – previously known as Grace 1 – was sold at sea to a private company, denying that Tehran had broken its promises over the vessel and highlighted that EU’s Syria sanction do not apply to Tehran.
Brazilian top court ordered the state-run oil company, Petrobras, to refuel the two Iranian grain vessels that have been stuck on the Brazilian coast because of the imposed US sanctions. Chief Justice, Dias Toffoli, changed a lower court ruling that enabled Petrobras, to refrain from fueling the vessels. Thus, the oil company is now obliged to fuel the Iranian vessels.
Following the two Iranian vessels that remain stuck in Brazil with no fuel, additionally two more Iranian bulk carriers that came to Brazil also could be left stranded. Petrobras addressed that refuses to provide the tankers with bunker fuel because of the US sanctions imposed.
About two months after the White House banned the purchase of Iranian oil, tankers are offloading millions of barrels of Iranian oil at Chinese ports, resulting to piles of cargoes. Bloomberg reports that the store of oil could lead to a push down of global prices, in the possibility that Chinese refiners decide to draw on it.
Two Iranian vessels remain at Brazilian ports for weeks, unable to return to Iran due to lack of fuel, as the state-run oil firm Petrobas refuses to sell them oil because of the sanctions imposed by the US.
China sets record in low-sulphur fuel exports during December22/01/2021
Crude oil prices to average near $50 per barrel through 2022, says US EIA22/01/2021
- Green Shipping
Norsepower installs world’s first tiltable Rotor Sails22/01/2021
Combining offshore wind and green hydrogen still too expensive, Rystad says22/01/2021
Seafarer Stories: Capt. Angelos Lekkas, Master22/01/2021
Lessons learned: How to improve crew transfer over vessel bow areas22/01/2021
Brazil prioritizes port workers for COVID-19 vaccine22/01/2021
- Green Shipping
Havyard to jointly develop hydrogen zero-emission vessels22/01/2021
- Cyber Security
Shipping must focus more on cyber security methods22/01/2021
Seafarer Stories: Capt. Ioanna Tzovara, First Officer22/01/2021
- Maritime Health
Update: Live map depicts spread of coronavirusSafety
Lessons learned: Uncontrolled movement of mooring chainSafety
RightShip, INTERCARGO jointly launch standard for safety in dry bulk sectorSafety
Lessons learned: Inadequate preparation of the wire for termination
Trending Now2020 sulphur cap accident reports Arctic China container ships COVID-19 cruise ships digitalization DNV GL EU green practices IMO lessons learned LNG as a fuel Maersk maritime piracy maritime security offshore operations oil and gas industry ports reducing shipping emissions reports safety measures shipping industry shipping market sm sustainability UK US USCG