Iran Detains \u2018Ocean Koi\u2019 Tanker Apparently Hauling Iranian Oil<\/p>\n
By\u00a0Patrick Sykes (Bloomberg) \u2014 Iran said it seized a tanker in the Gulf of Oman, which appeared to be a sanctioned vessel carrying the Islamic Republic\u2019s own oil.<\/p>\n
\u201cDuring a special operation, naval commandos of the Islamic Republic of Iran\u2019s Army detained the violating oil tanker Ocean Koi,\u201d state television reported, saying the vessel was \u201cattempting to disrupt oil exports and the interests of the Iranian nation.\u201d The tanker appears to be managed by a Chinese company, according to a shipping database.<\/p>\n
The state-run Islamic Republic News Agency said that the tanker was carrying Iranian oil, but that it had sought to \u201cexploit regional conditions,\u201d without elaborating.<\/p>\n
Benchmark oil prices in London showed little reaction to the tanker seizure, trading little changed as of 1 p.m. in London. Prices rose earlier after the US and Iran traded fire near the Strait of Hormuz, though Washington insisted a monthlong ceasefire remains in effect, and the two sides continue to discuss a permanent end to their 10-week war.<\/p>\n
State media published a video that appeared to show at least two small boats approaching a tanker under darkness. It showed armed men boarding the vessel and raising the Iranian flag. The reports didn\u2019t say when the seizure took place or give further information about the ship.<\/p>\n
a tanker of the same name in February for being part of Iran\u2019s \u201cshadow fleet,\u201d saying it had carried millions of barrels of Iranian fuel.<\/p>\n
The ship\u2019s manager is Ocean Kudos Shipping Co. in Shanghai, according to the Equasis international shipping database, which doesn\u2019t list a phone number or email address to contact the company.<\/p>\n
Iran has enforced a near closure of the Strait of Hormuz during the war that started at the end of February, choking the flow of vast amounts of oil, natural gas, fertilizer and other goods. But vessels carrying its own oil were passing through uninterrupted, until the US imposed a naval blockade in mid-April to prevent Tehran\u2019s oil from reaching global markets.<\/p>\n
Meanwhile, tankers have continued to load at Iranian terminals, but Washington says it\u2019s forced multiple vessels that tried to sail to turn back.<\/p>\n
\u00a9\u00a02026\u00a0Bloomberg L.P.<\/p>\n