Iran Tanker Update: June 2020

Iranian exports of crude and condensate fell in June to their lowest since February 2020. According to Bloomberg, the total observed shipments of crude and condensate were 133kb/d in June compared to 293k b/d in May. 

The majority of Iran’s exports in June went to China.  However, customs statistics records show that imports are down 62% from last year. Since the beginning of 2020, Iran exported an average of 82k b/d to China, also down 87% from the same period last year.

Despite the decline, UANI is tracking several vessels delivering to China, as Iran turns to more trickery to evade U.S. sanctions. The Very Large Crude Carrier (VLCC) HASNA “reappeared” (switched on its satellite tracker) on June 7 off the Indonesian archipelago for the first time in nearly a year and took an eccentric route to deliver its crude. A regular path would be to sail through the Malacca Strait.  HASNA, by contrast, sailed through the Bali Sea, then the Makassar Strait before reaching a location slightly north of Singapore.  As the below graphic shows, this adds several thousand miles to the journey: