World News
US Treasury Sanctions Iranian Shipping Company NITC
The US Treasury Department has imposed sanctions on the National Iranian Tanker Company (NITC) in its latest list.
The US alleges that Iran's petroleum industry funds the destabilizing activities of the Islamic Revolutionary Guard Corps-Qods Force, and the sanctions are aimed at limiting this activity.
Other maritime organisations added to the list include Atlantic Ship Management LLC and Atlas Ship Management, according to a statement on the Treasury Department's website. The oil tankers Longbow Lake and Wu Xian have also been added to the list.
The US has been using its sanctions system as a means of cutting Iranian crude and refined products exports to the rest of the world, but a significant share of shipments appear to have been continuing.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 565.50 | 4.50 | 678.50 | 4.50 |
| Rotterdam | 512.00 | 3.50 | 676.00 | 9.00 |
| Houston | 552.00 | 3.00 | 682.00 | 4.00 |
| Fujairah | 555.50 | 7.50 | 753.00 | 1.50 |
| Global 20 Ports Average | 583.50 | 4.00 | 762.50 | 2.50 |
| Global 4 Ports Average | 546.50 | 4.50 | 697.50 | 2.50 |
| Global Average Bunker Price | 632.50 | 2.00 | 811.00 | 1.50 |
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