Somewhere on its journey from the waters off Iran, around Africa's southern...
LONDON/DUBAI/PANAMA CITY - Somewhere on its journey from the waters off Iran, around Africa’s southern tip and into the Mediterranean, the Grace 1 oil tanker lost the flag under which it sailed and ceased to be registered to Panama. Iran later claimed it as its own.
Yet Panama’s move on May 29 to strike it from its register mid-voyage was part of a global squeeze on Iranian shipping. A Reuters analysis of shipping registry data shows that Panama has de-listed around 55 Iranian tankers since January, Togo has de-listed at least three and Sierra Leone one. Some nations have expressed caution, however. The world’s third biggest shipping registry, Liberia, said its database automatically identified vessels with Iranian ownership or other connections to the country.
“Most insurance companies or banks will not be able to deal with the Iranian flag as it is in effect dealing with the Iranian state,” said Mike Salthouse, deputy global director with ship insurer the North of England P&I.“One of the problems with an Iranian-flagged ship is that there is a 50 percent chance that a customs officer will undertake a search, which means the cargo will be delayed,” said a U.N. sanctions investigator, who declined to be named. “These all add to the costs.
“Nearly 80 tankers involved in sanctionable activity have been denied the flags they need to sail,” the spokesman added.U.S. sanctions on oil exports aim to reduce Iran’s sales to zero. Iran has vowed to continue exporting. Two Egyptian intelligence sources told Reuters that the tanker was halted in the Red Sea in July by authorities “without anyone knowing the reason”.
Two Iranian-flagged ships have been stranded for weeks at Brazilian ports due to a lack of fuel, which state-run oil firm Petrobras refuses to sell them due to U.S. sanctions. Two more Iranian ships in Brazil could also be left without enough fuel to sail home. Six days later, the vessel conducted a ship-to-ship transfer of its unknown cargo further up Pakistan’s coast.Imran Ul Haq, spokesman for the Pakistan Maritime Security Agency, said they had no information, when asked about the Iranian ship’s activity.
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