Shipping

"Iran’s largest crude-export terminal is poised to receive its first internationally owned tanker in a month, ending an absence caused by European Union curbs on insuring ships that extended to almost all the fleet.

The Ryuho Maru, now insured by the Japanese state, will arrive at Kharg Island tomorrow, according to ship-tracking data compiled by Bloomberg…The Ryuho Maru, owned by Tokyo-based Iino Kaiun Kaisha Ltd., will load about 1.7 million barrels of crude, three officials from refiners and Japan’s trade ministry said last week." (Bloomberg, "Japan Crude Tanker Signals Iran After International Absence," 7/18/2012)

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"Japan will load its first Iranian crude cargo backed by sovereign guarantees since sanctions disrupted coverage in the international reinsurance market.

JX Nippon Oil & Energy Corp. and Idemitsu Kosan Co. will load about 1.7 million barrels of Iranian crude on the very large crude carrier Ryuho Maru on about July 20 at Kharg Island, the country’s biggest oil-export terminal, according to three officials from the refiners and Japan’s trade ministry. The tanker, owned by Iino Kaiun Kaisha Ltd. , will be backed by the Japanese state, they said, asking not to be identified because the information is confidential.

Japan’s Iranian crude imports will fall in July because refiners were unsure whether the sovereign insurance would be available when they planned July-loading schedules last month, the officials said. Japan’s parliament passed a bill on June 20 to provide $7.6 billion of guarantees to tanker owners that carry Iranian oil. European Union sanctions, introduced as an attempt to persuade Iran to halt its nuclear program, took effect July 1." (Bloomberg, "Japan Set To Load First Iran Crude With Sovereign Insurance," 7/13/12)

As of May 17, 2021, Iowa's Public Employee's Retirement System lists Mercator on its Iran Scrutinized Companies List with a divestment date of August 16, 2022.

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"NITC has chartered the vessel the Omvati Prem, owned by Mumbai-based Indian shipper Mercator Ltd, and used it to carry an oil cargo that sailed from Iran in December for Indian refiner Mangalore Refinery and Petrochemicals Ltd, the sources said. The deal included cost, insurance and freight (CIF), they said... Mercator was the only company to use the scheme. Before NITC chartered the Omvati Prem, MRPL had used the vessel -- which can carry about 635,000 barrels -- to import Iranian crude... 'Iran offered Mercator a better rate than MRPL, that's why they have taken the risk of joining hands with NITC,' another shipping source said. 'Mercator has taken a risk as NITC is a blacklisted company under sanctions.' Mercator paid $26,105 for P&I cover to United India Insurance Company and 1,852,710 rupees for hull and machinery cover to The New India Assurance for a voyage between December 28 and January 27, documents seen by Reuters show. Sources at the two insurance companies were not aware that Mercator had used the policy to deliver an Iranian cargo on a CIF basis. Mercator did not respond to Reuters enquiries. MRPL, India's shipping ministry, United India Insurance and The New Indian Assurance Co Ltd all declined to comment for the story." (Reuters, "Iran charters oil ship with Indian insurance: sources," 1/15/2013)

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"The MT Omvati Prem — a tanker contracted to carry 85,000 metric tons of crude oil from Iran for Indian state refiner Mangalore Refinery and Petrochemicals Ltd. — is scheduled to arrive in India by Aug. 25, said Kowshik Kuchroo, president of shipping for Mercator Ltd., an Indian shipping company. 'This being a government of India cargo, it has a different sense of importance. We’re not doing it just for business,' Kuchroo said Monday. 'India is in definite need of the crude. At a short notice, we can’t just snap the supply.' Mercator is insuring the ship with $50 million in hull and machinery insurance, which covers physical damage to the ship, from state-owned New India Assurance Co. It’s insuring the vessel with another $50 million in protection and indemnity insurance, which covers a broad range of liabilities, including environmental pollution and cargo damage, from government-backed United India Insurance. That is a far cry from the $1 billion in coverage Indian companies like Mercator got from European insurers, which used to underwrite most maritime coverage... Mercator aside, most Indian shippers don’t like the terms of the insurance coverage and have declined to send tankers to Iran." (The Washington Post, "India to resume shipping Iran oil, as Asia looks for ways around EU insurance sanctions," 8/13/2012)

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"India has been forced to seek its own arrangements to insure its purchases of Iranian oil, officials said, even as it reduces imports under pressure from U.S. and European Union sanctions. Indian state-owned insurers, shipping lines and government officials met to discuss the situation in Mumbai on Wednesday. India's state-run insurance firms have agreed to offer coverage of up to $50 million for each Indian ship carrying Iranian crude. Such coverage is much lower than the up to $1 billion that European insurers would normally give per ship to cover third-party claims in the event of an oil spill or other accident…The problems facing India show the effectiveness of policies aimed at squeezing Iran financially in a bid to force the country to take measures that guarantee its nuclear program isn't being used for weapons development. Tehran says the program is for peaceful purposes…Indian shippers, such as Shipping Corp. of India, Great Eastern Shipping Co. and Mercator Ltd., handled a total of about six to seven ships carrying Iranian crude every month before the EU ban, said Anil Devli, head of the Indian National Shipowners Association. The Indian shipping industry was also pushed to accept low insurance coverage because it doesn't want to see its business going to Iranian tankers, the executive said. 'The petroleum ministry wants to bring crude in Iranian vessels which will hurt business for Indian ships, so we accepted this figure,' he said." (The Wall Street Journal, "Insurance Woes Slow India Deals for Iran Oil," 7/11/2012)

"David Skinner, 47, who runs an insurance firm from the tax haven of Liechtenstein, apparently provided cover for two Iranian-owned tankers involved in transporting crude oil from Syria, according to insurance certificates seen by The Sunday Telegraph. The European Union put an embargo on all exports of Syrian oil last September, in a bid to starve President Assad's regime of valuable oil revenues, which account for up to a third of government income. The legislation not only bans EU-based shipping companies from transporting such oil, but also forbids EU-based insurance firms from providing cover. However, because Liechtenstein is not within the EU's jurisdiction, there was nothing to stop Mr Skinner's company, DGS Marine Group Ltd, issuing insurance certificates via a scheme it manages called the British European & Overseas Protection and Indemnity. Certificates bearing his firm's name and his signature were obtained by the Stockholm International Peace Research Institute (SIPRI), an independent body part-funded by the Swedish government that monitors companies and individuals suspected of sanctions-breaking and illicit trafficking. Mr Skinner, a former shipping lawyer who spent years in the British maritime insurance industry, has denied the allegations, suggesting that the certificates must have been forgeries." (Telegraph, "British businessman accused of insuring oil tankers 'involved in undermining sanctions against Syria'," 6/23/12)

SK Shipping is a subsidiary of SK Holdings and works in conjunction with SK Energy

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"Earlier this month, two South Korean shipping companies said they had suspended importing Iranian crude due to a separate EU embargo set to come into force from July. SK Shipping, which handles the needs of refiner SK Energy, said it shipped its last cargo from Iran early this month and it would arrive by the end of June." (AFP, "S.Korea reports sharp fall in Iran oil imports," 6/25/12)

The Libya’s owner GNMTC “was not aware, at any stage that the cargo is linked in any way to Iran,” the company’s spokesman said via email. (3/20/2019).

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According to publicly accessible ship-monitoring data, since January 1, 2016, vessels for which GNMTC is the Operator have called at Iranian ports.

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"In recent months, Libya's General National Maritime Transport—which itself was under U.S. sanctions during its civil conflict last year—has emerged as the single largest transporter of Iranian oil to the EU, with six trips in as many months, according to the Clarksons shipping database."  (Wall Street Journal, "Mystery Ship Underlines Pain Tehran Faces Over Sanctions," 6/21/12)

PRS now classes the VLCCs Deep Sea, Felicity, Hilda I, Herby and Starla, plus the Suezmax vessel Salina. These vessels were previously covered by classification societies Lloyd’s Register, Korea Shipping, and DNV, according to Lloyd’s List Intelligence data. Class transfers began in September, with the final vessel completed to PRS in late February, data shows. Most other tankers in the fleet are now with the China Classification Society...This means the active NITC fleet is now covered by China for all but the six PRS vessels, according to Lloyd’s List Intelligence data. (March 22, 2019)

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According to the open source Equasis Database, China Classification Society provides services to two National Iranian Tanker Company vessels, the "Darab" and the "Dadgar" (Equasis: Ship Search)

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"UANI (United Against Nuclear Iran) organization has sent a letter to China Classification Society (CCS) to stop certifying Iranian vessels, a source in UANI told Trend.UANI (United Against Nuclear Iran) organization has sent a letter to China Classification Society (CCS) to stop certifying Iranian vessels, a source in UANI told Trend. According to the source, UANI currently is focused on 'pressuring shipping companies', however there are 'more campaigns coming up'. CCS reportedly surveys tankers of the National Iranian Tanker Company (NITC), and has provided certification coverage to the NITC's Darab and Justice vessels. In its letter to China Classification Society (CCS), UANI expressed their concern about CCS's business activities with Iran. The letter states that 'by providing certification and other maritime services to Iranian vessels owned by sanctioned entities, CCS is directly facilitating the ability of the Iranian regime to circumvent multilateral sanctions that have been imposed to prevent it from further developing its illegal nuclear weapons program'... UANI says CCS may also run afoul of U.S. law if it maintains its business activity with Iran... In July, KR had sidestepped calls by UANI to halt its verification work saying it was concerned that vessel safety and marine environment protection could be compromised." (Trend, "UANI warns China's CS about Iranian vessels, plans more campaigns," 10/4/2012)

"So despite concerns over regulation and reputation, that opportunity explains the caravan of container carriers that started resuming service to Iran back in January. The Iranian port at Bandar Abbas now welcomes ships from Evergreen, Hyundai, OOCL, Hanjin, “K” Line, KMTC, X-Press, Yang Ming, and many more..." (Global Trade, "Transportation/Logistics:Iran is Back Open for Business," 11/1/2016).

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"Taiwanese lines Evergreen and Yang Ming Marine said they had pulled out, while Singapore's Pacific International Lines has also cut ties along with two top South Korean shipping firms." (Reuters, "Chinese Firms Drop Iran as Latest U.S. Sanctions Bite," 07/01/2013)

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On June 23, 2011, the U.S. Treasury Department sanctioned Tidewater Middle East Co. (“Tidewater”), Iran’s major port operator, because the IRGC owns it and uses it for illicit activities

including weapons shipments. (U.S. Department of the Treasury Press Center, “Treasury Sanctions Major Iranian Commercial Entities,” 6/23/11)  The EU followed with its own sanctions against Tidewater on January 23, 2012. (Official Journal or the European Union: Council Decision 2012/35/CFSP)

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Operates as a liner & feeder in Iranian ports.  (Ports and Maritime Organization: Shipping Lines which operating in Iranian Ports)

Uses Tidewater Middle East Co.’s private terminals in the Shahid Rajaee Port Complex. (Tidewater: Reflection of Tomorrow)

"Kuwait-headquartered United Arab Shipping Co (UASC), which is among the world's biggest 20 container lines, said last month it had suspended all services to and from Iran. 'We now find ourselves in the peculiar situation where even if we are carrying non-sanctioned cargo to non-sanctioned entities, the cargo will eventually have to be handled by a party which the U.S. government considers as providing financial support to a sanctioned party,' it said. In a company memo seen by Reuters, UASC added: 'With the passing of the NDAA ... the difficulties in shipping cargo to and from Iran have only increased.'" (Reuters, "Iran faces fresh trade heat as more shipping firms exit," 5/7/2013) 

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Operates as a feeder in Iranian ports.  (Ports and Maritime Organization: Shipping Lines which operating in Iranian Ports)

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Uses Tidewater Middle East Co.’s private terminals in the Shahid Rajaee Port Complex. (Tidewater: Reflection of Tomorrow)

On June 23, 2011, the U.S. Treasury Department sanctioned Tidewater Middle East Co. (“Tidewater”), Iran’s major port operator, because the IRGC owns it and uses it for illicit activities including weapons shipments. (U.S. Department of the Treasury Press Center, “Treasury Sanctions Major Iranian Commercial Entities,” 6/23/11)  The EU followed with its own sanctions against Tidewater on January 23, 2012. (Official Journal or the European Union: Council Decision 2012/35/CFSP)

"Wan Hai Lines reportedly provides shipping services to Iran. In 2019, CalSTRS identified Wan Hai Lines as potentially having ties to Iran and began the review process. The engagement has been delayed by shutdowns related to the COVID19 pandemic. Accordingly, CalSTRS maintained an “Under Review” status in 2020."

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The Ports & Maritime Organization lists WHL as operating in Iranian ports.

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“China's Wan Hai shipping company announced its readiness to restart its activities in Iran's Shahid Rajaee port. A high-ranking delegation from the company has travelled to the port to discuss possible ways of cooperation with Iranian officials, Iran's IRIB News Agency reported on May 24. The company is reportedly ready to operate ships with capacity to carry 6,000 containers…Deputy director of Hormozagan province's Ports and Maritime Organization, Mojtaba Khoshniat, said that the port is becoming a key port in the region.” (Trend, “Chinese shipping firm ready to resume activities at Iran’s Shahid Rajaee port,” 5/24/14)

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“The Taiwanese shipping line Wan Hai berthed at Iran's Shahid Rajaee Port as EU sanctions against the country's shipping industry have been eased, the Fars news agency reported on July 22. Wan Hai container with 6,000 TEU capacity berthed at Shahid Rajaee Port in the southern province of Hormozgan neighboring the Persian Gulf on July 22. Before the easing of sanctions, ships had to unload cargoes at ports in Turkey, the UAE, Georgia, and Oman, and then the cargoes were transported to Iran. Direct shipment through Shahid Rajaee Port will decrease costs $40,000-100,000 per ton of cargo. Other ships from India, China, and South Korea are also scheduled to berth at Shahid Rajaee Port in the future, the IRNA news agency quoted Ali Jahandideh, the deputy director of the Ports and Maritime Organization of Iran as saying on July 21.” (Trend, "Taiwanese shipping line berths at Iran's Shahid Rajee Port as sanctions eased," 7/22/14)

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“China's Wan Hai shipping company announced its readiness to restart its activities in Iran's Shahid Rajaee port. A high-ranking delegation from the company has travelled to the port to discuss possible ways of cooperation with Iranian officials, Iran's IRIB News Agency reported on May 24. The company is reportedly ready to operate ships with capacity to carry 6,000 containers…Deputy director of Hormozagan province's Ports and Maritime Organization, Mojtaba Khoshniat, said that the port is becoming a key port in the region.” (Trend, “Chinese shipping firm ready to resume activities at Iran’s Shahid Rajaee port,” 5/24/14)

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"A source at Hong Kong's Wah Hai Lines said it would no longer send its vessels to Iran." (Reuters, "Iran faces fresh trade heat as more shipping firms exit," 5/7/2013)

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Operates as a liner in Iranian ports.  (Ports and Maritime Organization: Shipping Lines which operating in Iranian Ports)

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Listed by the Iranian Ports and Maritime Organization as doing business with the Iranian Bar va bahre Iran.  (Ports & Maritime Organization: Companies Affairs Department: Liners)

Maghami, an Iranian national, is also excited over the decision of western nations to lift sanctions on Iran and the business opportunities it opens up. Simatech, he said, plans to start a direct shipping service between India and Iran. (May 6, 2016).

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"Nevertheless, companies are uncomfortable. Dubai-based Simatech Shipping said this month it would cut services to and from Iran from June because of the new sanctions." (Reuters, "Iran faces fresh trade heat as more shipping firms exit," 5/7/2013) 

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Operates as a liner & feeder in Iranian ports.  (Ports and Maritime Organization: Shipping Lines which operating in Iranian Ports)

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Listed by the Iranian Ports and Maritime Organization as doing business with the Iranian Khadamat Saheli Iran.  (Ports & Maritime Organization: Companies Affairs Department: Liners)