Post by : Shakul

A tanker carrying Iranian crude oil has diverted its route from India to China mid-voyage, raising questions over a potential resumption of oil trade between India and Iran. The vessel, Ping Shun, was initially headed towards Vadinar Port in Gujarat, which would have marked India’s first import of Iranian oil in nearly seven years.

Ship-tracking data revealed that the US-sanctioned Aframax tanker, carrying around 600,000 barrels of crude, changed its declared destination to Dongying in China just days before reaching Indian waters. The vessel had been en route to India for nearly three days before altering its course near the Gujarat coast.

According to market experts, the sudden shift appears to be linked to payment-related concerns. Sellers are reportedly tightening financial terms, moving away from flexible credit periods and demanding quicker or upfront payments. This has made such transactions more complex and sensitive for buyers, including Indian refiners.

The identities of the buyer and seller involved in the shipment remain unclear. Analysts also noted that destination signals on a ship’s tracking system can be changed at any time, meaning the cargo could still be redirected depending on commercial conditions.

India had stopped importing Iranian crude in 2019 following stricter US sanctions. Before that, Iran was a key supplier, contributing significantly to India’s oil imports due to competitive pricing and refinery compatibility. This latest development highlights how geopolitical tensions and financial risks continue to influence global oil trade flows.

#world news #Asia News #China #Energy