TEHRAN: Iranian tanker, carrying 136,000 mt of South Pars condensate, caught fire late Saturday after a collision with another vessel off in the East China Sea. Iranian oil ministry news agency Shana reported that the ship, the Sanchi, collided with cargo vessel CF Crystal approximately 97 km off the South Korean coast. The vessel, owned by the National Iranian Tanker Co., was heading to South Korea’s Daesan port where it was due to arrive January 8-10, according to data from cFlow, S&P Global Platts trade flow software. The cargo was purchased by South Korea’s Hanwha Total Petrochemical. The South Korean navy and naval police have also sent two helicopters and a petrol rescue vessel to help coordinate with Chinese and Iranian Maritime authorities, a source at Hanwha Total said. South Korea’s ultra-light crude imports from Iran could fall this year with major petrochemical companies and refiners securing less South Pars condensate term supplies compared to this year. Its crude oil imports from Iran fell 32.9% year on year to 1.296 million mt (316,667 b/d) in November, according to preliminary customs data released in December.
Wheat, flour prices expected to decline after imported wheat arrives
KARACHI: A ship carrying 51,000 tonnes of imported wheat has arrived at Karachi Port, raising hopes of a decline in...
