Some November cargoes remain undelivered, following disruptions to a number of October shipments, Emma Li, a senior market analyst, wrote in a note. At least 191 Very Large Crude Carriers are on the US sanctions list, according to Vortexa.
“Recent US tanker sanctions have led to a slowdown in Iranian vessels calling at Shandong ports, as Chinese buyers increasingly require cargoes to be delivered on non-sanctioned vessels,” Li said.
As a result of the disruption in crude flows, some independent Chinese refiners — which were recently granted additional import quotas — may face challenges in fully utilizing their allowances.
