Sunday March 1, 2015 Search
Weather | Athens
11o C
6o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Iran tanker cargo investigated off Greek coast amid EU ban

Sekavin SA, a Greek fuel supplier, said it’s investigating the origin of a cargo aboard an Iranian tanker off the Mediterranean island of Syros amid a European Union ban on purchases from the Middle East nation.

The Baikal arrived at the Greek island on Monday and has the capacity to carry about 1 million barrels of oil or refined products, ship-tracking data compiled by Bloomberg show. The cargo of ship fuel hasn’t been unloaded, Sekavin Operation Manager Yannis Spyridakis said by phone on Tuesday. The vessel is flying the Tanzanian flag, he said.

NITC, a Tehran-based tanker operator, controls the ship and says the company is owned by Iranian pension funds, data compiled by Bloomberg show. The 27-nation EU barred imports of Iran’s oil and refined products in July. The EU and U.S. have intensified sanctions, saying the country’s nuclear program is aimed at producing weapons, a charge Iran has denied.

“It’s clear that sanctions are getting tighter and tighter against Iran,” Samuel Ciszuk, an oil consultant at KBC Energy Economics in Walton-on-Thames, England, said by phone Tuesday. “There is great uncertainty for all parties involved as soon as Iran appears in the supply chain because of the embargo and financial sanctions.”

Habib-ullah Seyedan, NITC’s commercial director, declined to comment by phone Tuesday and said the company’s operations manager was not available for comment.

The Baikal arrived in Greece having been off the coast of Morocco as recently as Nov. 11, the ship-tracking data show.

Tanzania-Zanzibar said last month 14 Iranian tankers that were previously registered in Tuvalu were mistakenly signaling the east African territory as their flag state. NITC renamed part of its fleet and changed the ship registrations amid sanctions on Iran’s nuclear program, which the government in Tehran maintains is for civilian purposes.

The EU banned imports of the Middle East nation’s oil in July under legislation that also prohibited any vessel insured in the 27-country bloc from carrying the crude. The U.S. Treasury Department said July 12 it would block transactions through the country’s financial system involving NITC and 27 affiliated entities.

The EU sanctions on Iranian oil affected about 95 percent of the global tanker fleet because the ships are insured under rules governed by European law. Carrying Iranian oil would invalidate ships’ insurance against risks including spills and collisions, according to the International Group of P&I Clubs.

The sanctions are costing Iran about $98.9 million a day based on the average price of the country’s cheapest crude in Asia, its largest market, and October’s export estimates from the International Energy Agency.

[Bloomberg]

ekathimerini.com , Wednesday November 28, 2012 (12:14)  
Alleged accomplices of N17´s Xeros caught in Athens
Hellas Gold and workers react to Greek gov´t decision on plan permit
Greek ministry says teacher hirings to continue via ASEP
Women conned elderly Cretans by posing as church representatives
Greece seeks negotiations on ECB bond repayment
Greece called into question on Saturday a major debt repayment it must make to the European Central Bank this summer, after acknowledging it faces problems in meeting its obligations to inte...
Piraeus plans are coming in next few weeks
Finance Minister Yanis Varoufakis on Friday visited the installations of Piraeus Container Terminal (PCT), the local subsidiary of Cosco, with Chinese Ambassador Zou Xiaoli, in another effor...
Inside Business
BASKETBALL
Spanoulis leads Olympiakos to win over Malaga
A good second half was enough for Olympiakos to get the better of Unicaja Malaga (77-72) and score its seventh win in eight games at the second group stage of the Euroleague on Friday. Playi...
SOCCER
Ten-man Olympiakos couldn´t overcome Dnipro
Olympiakos drew 2-2 with Dnipro from Ukraine at home on Thursday, playing almost the entire second half with a man down, to bow out of the Europa League, despite facing an opponent which on ...
Inside Sports
COMMENTARY
A unionist agenda
Maybe Greece will not experience a credit event, “because it is in no one’s interest,” as Minister of State for Coordinating Government Operations Alekos Flambouraris recently assured. Maybe...
EDITORIAL
The beguiling limelight
Too much media exposure is never a good thing and there is no shortage of newcomers in politics who are beguiled by the limelight. What usually comes after this thrall of publicity is the in...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Alleged accomplices of N17´s Xeros caught in Athens
2. Hellas Gold and workers react to Greek gov´t decision on plan permit
3. Greek ministry says teacher hirings to continue via ASEP
4. Women conned elderly Cretans by posing as church representatives
5. Spain, Portugal sought to trip up gov’t, Tsipras says
6. Police nab Kavala man over homegrown cannabis
more news
Today
This Week
1. Greece seeks negotiations on ECB bond repayment
2. Spain, Portugal sought to trip up gov’t, Tsipras says
3. A unionist agenda
4. Hellas Gold and workers react to Greek gov't decision on plan permit
5. Greek ministry says teacher hirings to continue via ASEP
6. Women conned elderly Cretans by posing as church representatives
Today
This Week
1. Time for Alexis Tsipras to keep his nerve
2. Greek bailout deal faces review by euro officials next week
3. Greece says eurozone deal won time as cash bled from banks
4. The ignorance of the West about the culture of Islam
5. A fierce battle looms
6. Spain said to lead push to hold Greece to terms as Podemos grows
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2015, H KAΘHMEPINH All Rights Reserved.