- Pakistan unlikely to receive Iranian crude.
- Tankers switched destination signals Tuesday.
- Analysts see temporary waiting strategy.
Two tankers carrying Iranian crude have changed their destination signals to Karachi, a move analysts say could indicate they are seeking a temporary holding area as the United States intensifies enforcement of its naval blockade, The News reported, citing a Bloomberg report.
The Rani and the Amil, which are carrying a combined 1 million barrels of crude, switched their destination signals to Karachi on Tuesday, ship-tracking data compiled by Bloomberg show. The two vessels were already outside the Persian Gulf when Washington reimposed its naval blockade of Iranian shipping.
It’s unlikely the tankers will discharge their cargoes in Pakistan, as that would expose the country to the risk of running afoul of US sanctions. The nation hasn’t imported any Iranian crude in at least a decade, according to data intelligence firm Kpler.
Instead, the vessels, a suezmax and a medium-range tanker, may be heading to Pakistani waters to either wait or transfer their cargoes to other ships. This isn’t the first time tankers carrying Iran oil have stopped in waters off Karachi.
Previously, when the US blockade was in place, several empty Iran-linked tankers idled in the area in order to stay close to the Persian Gulf as they waited for the right time to sail back in for more cargoes, according to nonprofit organisation United Against Nuclear Iran.
“If this trend is re-emerging, it may reflect operators’ assessment that remaining near Pakistan offers a relatively secure location from which to wait out developments, rather than any intention to discharge Iranian oil or cargo into Pakistan,” said Charlie Brown, an adviser to UANI.
The waters off the eastern coast of Malaysia remain one of the main holding areas for Iran-linked tankers, serving as a hotspot for ship-to-ship transfers for cargoes bound for China.
Many vessels with Iranian crude often conduct such transfers in the dark, or with their transponders turned off, away from the scrutiny of authorities. Most of the tankers that have left the Persian Gulf over the past weeks have signaled Singapore as their next destination.
The vessels “could be sailing much closer to Pakistan to avoid US Navy vessels and signal Karachi as a waypoint instead,” said Xavier Tang, a senior market analyst at Vortexa.
Both tankers are sanctioned by the US, and are part of the dark fleet Iran uses to transport its oil. Maritime database Equasis lists Panama-based Starboard Shipping Inc-Pan as owner and manager of the Rani, while Malaysia-based Amelie Ltd owns the Amil and Espoir Shipping Ltd in Hong Kong manages it. Equasis lists no contact details for Starboard or Espoir. The contact number listed for Amelie is not in service.
