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In a significant maritime operation last month, Indonesian authorities seized the tanker 'Horse' due to its suspected involvement in an illegal ship-to-ship oil transfer with the Iranian vessel 'Freya.' This action has revealed potential connections to a larger network previously sanctioned by the United States for participating in the illicit Iranian oil trade. The 'Horse' is owned by the National Iranian Tanker Company (NITC), which is on the U.S. sanctions list. Similarly, the 'Freya' is tied to entities that have also been sanctioned for their involvement in oil trade activities linked to Iran. The operation unfolded while both vessels were anchored in Indonesian waters west of Kalimantan, where they were found displaying obscured flags and had their AIS transponders turned off. Alarmingly, the 'Freya' was reported to be leaking fuel during the illicit transfer activities. Notably, the 'Horse' is part of a maritime fleet dispatched by Tehran last year to transport Iranian condensate to Venezuela, while the 'Freya' has recently completed two cargo deliveries to China. Investigation into the ownership of the 'Freya' reveals that the operator, Moonlight Shipping Pte. Ltd., is linked to corporate records listing a Dalian, China-based address, which is associated with subsidiaries of COSCO Shipping, a major Chinese shipping conglomerate that has faced sanctions for its role in the Iranian oil trade. Maritime records indicate that 'Freya' is owned by Freya Limited, a company registered in the Marshall Islands, sharing a Singapore address with Moonlight Shipping Pte. Ltd. Intriguingly, Moonlight Shipping is affiliated with individuals who have ties to COSCO Shipping Tanker (Dalian) Seaman And Ship Management Co., Ltd., a company sanctioned in 2019 for transporting oil from Iran. Although this COSCO subsidiary was dissolved post-sanctions, its address continues to be utilized by various other entities within the shipping giant's network. Compounding the situation, Moonlight Shipping had operated the vessel 'Themis' until early 2021, right after the seizure of the 'Freya.' Additionally, records show 'Themis' also had its AIS transponder disabled for three days in December 2020 in the vicinity where the 'Horse' and 'Freya' were later apprehended. Currently, 'Themis' is managed by Shanghai Prosperity Ship Management, which has a history of managing vessels with connections to Iranian petroleum networks. The 'Freya' is reportedly managed by Shanghai Future Ship Management Co. Ltd. Although this company does not appear in Chinese corporate records, its registered address corresponds to that of Chengda Ship Management Co. Ltd. Notably, corporate records indicate that Chengda shares identifiers with Shanghai Prosperity Ship Management and Shanghai Xinchi Petrochemical Co. Ltd., a company alongside which individuals were sanctioned for engaging in oil transactions with Iran. These individuals reportedly left their positions at Xinchi Petrochemical shortly after being designated. This incident underscores the ongoing complexities of the global oil trade, especially involving nations under international sanctions, as agencies continue to unravel intricate networks operating beneath the surface. For further insights, refer to the detailed report featuring photographic evidence: https://brief.kharon.com/updates/seized-vessel-shows-wider-ties-to-illicit-iranian-oil-trade-networks/

In a significant maritime transaction, a vessel has been sold to a buyer from Norway for an impressive sum of $19 million. This sale highlights the ongoing activity in the shipping industry as buyers seek to expand their fleets and capitalize on market opportunities.