Chinese company Unipec has replaced the four oil deliveries booking from Middle East Gulf after US enforced sanctions on the COSCO tanker subsidiaries, said three tanker sources yesterday. Unipec has swapped to other vessel owners as well as AMCL (Associated Maritime Company Limited) after the US appointment of two subsidiaries of COSCO.
Unipec might look for AMCL's tanker to book the next cargoes from Gulf said one of the sources. US treasury department stated that they enforced the sanctions on five Chinese residents and six companies alleged to have compromised the unilateral curbs of US on Iran including COSCO Shipping Tanker (Dalian) Co. and COSCO Shipping Tanker (Dalian) Seaman & Ship Management Co. along with Kunlun Shipping Co. Ltd. was making China seen to be oppressed by the US.
Indian Oil Corporation Limited (IOCL) reviewing the US sanctions consequences on leasing a vessel owned by COSCO subsidiaries appointed by the US before. It seems that roughly 50 vessels afflicted by the sanctions, as losing numerous tankers in a brief period making the tankers company struggle in high rates and the tight market already as stated by one of the shipment sources.
Canceled vessels and interchanged at unreasonable rates, Trump's administration tried to lessen the aftermath of the unexpected sanctions and used a "harmless" pressure campaign. Supertanker rates on Middle East Gulf benchmark route to China escalated to its highest standards more than three quarters with an average income touching $46,578/day, report one of the market analysts.
The new sanctions cannot provide any info on ships mentioned that put confusion with the rented tankers, Unipec also trying to increase US deliveries since the middle of September on Aramco facilities.
