World News
China to Buy Iranian Fuel Oil Shipment
Chinese State run oil firm the Zhuhai Zhenrong Company (Zhuhai Zhenrong) has provisionally hired the Khorfakkan, a 105,304 dwt crude oil tanker flying the Liberian flag, to load 80,000 metric tons of fuel oil on May 15 from the Iranian port of Bandar Mahshahr, Bloomberg has reported.
Vessel tracking site marinetraffic.com shows the last position of the vessel heading east of the coast of Dubai having last visited the Qatar port of Umm Sa'id.
The deal has been made via Zhuhai Zhenrong subsidiary unit Tianbao, with Bloomberg saying information came from three shipbrokers including Poten & Partners Inc. in New York.
Zhuhai Zhenrong was one of three international firms to be punished for dealing with Iran in January earlier this year.
Washington had accused Zhuhai Zhenrong of being the largest supplier of refined petroleum products to Iran and barred it from receiving U.S. export licenses or loans of more than $10 million from U.S. financial institutions.
At the time, China's foreign ministry said imposing unilateral sanctions on Zhuhai Zhenrong based on US law was "unreasonable".
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