Complete Maritime Profile & Reviews of Stark1

In a significant move, the Iranian-owned tanker CLOVE, part of the fleet operated by Tehran's National Iranian Tanker Company (NITC), is en route to India to discharge a substantial oil cargo. According to ship tracking data from AIS, the Suezmax vessel, capable of transporting up to 1 million barrels of oil, is expected to dock at the eastern Indian port of Visakhapatnam on July 25. Alongside CLOVE, additional very large crude carriers (VLCCs) are traveling towards China, while another vessel remains anchored off the Egyptian port of Ain Sukhna. This shipping action comes in light of the European Union's embargo on Iranian oil imports, which took effect on July 1, prompting Iran to significantly increase its oil storage at sea. By the end of May, the International Energy Agency reported that Iranian tankers held approximately 42 million barrels of crude oil. Notably, around 60 percent of NITC's fleet, comprising 17 VLCCs and eight Suezmaxes, is currently utilized for crude storage offshore, as highlighted in a recent report citing anonymous shipbrokers. Source: Bloomberg