In addition to a series of under-the-radar ship-to-ship (STS) transfers, an explosion last week involving a VLGC and a succession of ship sales to unknown Chinese owners have opened a window into a specialist trade in Iranian crude and gas.
The niche business is not necessarily illegal, but its participants do not like publicity.
China's Kunlun Shipping, widely reported to have links to China National Petroleum Corp, the parent of listed oil major PetroChina, looms large in this trade.
The company has added a VLGC and two VLCCs to its fleet this year, all between 17 and 21 years old. One of them took part in a recent STS transfer of Iranian crude less than a week after its reported delivery in November.
Kunlun was also in the news last week when an explosion off Malaysia's Batu Pahat anchorage injured two crew members on its 78,400-cbm Gas Infinity (built 1997). Four crew members were also hurt on a pilot boat tied up alongside, according to local reports citing the Malaysian Maritime Enforcement Agency.
But some commercial LPG shipping sources believe the Gas Infinity was engaged, or preparing to engage, in an STS with another nearby Kunlun vessel at the time.
Suspected STS activity
Ship tracking databases show the Gas Infinity had approached within about one kilometre of the anchored 78,700-cbm Sea Dolphin (built 2000) on 11 December, at the time of the Gas Infinity's last AIS transmission before apparently turning off its transponder. The explosion took place on 13 December.
An operational official at Kunlun confirmed to TradeWinds that the explosion involving the Gas Infinity took place on the pilot boat, but did not reply when asked if the Gas Infinity and Sea Dolphin were involved in the STS transfer business.
Several VLGC shipowning and broking sources told TradeWinds that their companies avoid Iranian cargoes as a matter of policy to avoid any possible fallout from US sanctions. The Iran-China STS trade is the province of specialist shipowners whose identities are not always clear and whose ships are not offered on the broader market, they said.
Commercial sources believe this niche trade is the destiny of a series of old VLGCs recently reported sold to unknown Chinese buyers.
Sales details
Two of the sales in late November are believed to be still on subjects. One is the reported sale of the 78,498-cbm Energy Orpheus (built 1993) by Idemitsu Tanker, the parent of Astomos. A second involves Mercator's 76,932-cbm Sisouli Prem (built 1992).
Before that, Pacific Gas sold the 80,529-cbm LPG Scorpio (built 2003) to an unknown Chinese buyer in early November. It has been renamed the Global Scorpio.
Pacific Gas, as a player with an international profile and a mostly very modern fleet, is not one that would be expected to seek Iran-related business, but cargo information service Keplr said the 75,353-cbm Gas Jenny (built 1991) was a recent player in the trade.
