Lloyd’s List: Tanker Players to Fell Iranian Impact from Winter

14 Jul 2015: “In addition, Poten & Partners’ head of tanker research, Erik Broekhuizen, expects NITC to primarily ship Iranian crude as per its usual practice. “In this aspect, the positive factor from increased exports will be balanced out by the incremental Iranian shipping capacity, starting when Iran releases 30m-40m barrels of crude stored on NITC tankers during initial voyages. “Additional shipments from Iran could also be negative for tanker markets tonne-mile wise, if China, India, Japan and South Korea — the top four buyers of Iranian crude — increase intake from Iran at the expense of more distant barrels to save freight costs. “Mr Broekhuizen pointed out Iranian crude will most likely compete with barrels from Saudi Arabia and Kuwait, which suggests neutral tonne-mile impact, but the possibility of Asian importers cutting imports from West Africa and South America in favour of Iranian crude cannot be ruled out. “’If the Iranian crudes sold into Asia displace Atlantic-based supplies, the tonne-mile impact could be negative,’ Mr Broekhuizen said.”