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Several tankers and entities sanctioned

On Dec 3, 2024, the United States announced sanctions on 35 entities and vessels that have been involved in the transport of Iranian petroleum and derivatives to foreign markets. The reasons for this have been cited to be the Iranian attacks on Israel on Oct 1 as well as Iranian announcements of nuclear escalations. The goal of the sanctions has been stated to be hamstringing the Iranian nuclear program, the advancement of their drones and missiles, and their sponsoring of terrorist proxies by cutting off the funding from the sale of oil. A total of 35 entities and vessels have been targeted in this most recent move. 18 tankers have been sanctioned, being alleged to have shipped tens of millions of barrels of oil for Iran. In addition to these vessels, a number of entities that operate and manage these vessels, as well as those that facilitate the sale of Iranian oil, have also been sanctioned. The 'Rioo Napo' and 'Lara II' have been sanctioned as they are owned and managed by India-based Vision Ship Management LLP, which has been sanctioned itself. The RIO NAPO has also carried Iranian Naptha to the UAE in the past. The 'Tonil' has been known to skirt previous sanctions and transport millions of barrels of Iranian oil. The tanker is owned and managed by the sanctioned Ukrainian Lightship Management Ltd. Another sanctioned company, the Indian Tightship Shipping Management (OPC) Private Ltd,, is also known to be involved in the ship’s management.

Sold

Formosa Plastics Marine Corp have sold their VLCC “Formosapetro Challenger” 282/2001 IHI-Kure, Japan with DD 06/2019 to undisclosed buyers at USD 19mill.