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Exclusive: Half Iran tanker fleet storing oil at sea

Reuters -- SINGAPORE - Iran has been forced to deploy more than half its fleet of supertankers to store oil at anchorage in the Gulf as buyers of its crude cut back because of sanctions, two Iran-based shipping sources said.

The sources, who are familiar with operations at Iran's main export terminal Kharg Island in the north of the Gulf, said 14 of National Iranian Tanker Company's (NITC) fleet of 25 very large crude carriers, each loaded with about 2 million barrels of oil, are now at anchor acting as floating storage.

A further five of Iran's nine Suezmax tankers, with capacity of one million barrels, are also parked offshore with oil aboard.

That means that of Iran's 59-million-barrel fleet of VLCCs and Suezmax sized tankers, 33 million barrels of capacity are being used to store crude at sea

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Submitted Apr 24, 2012 By: bar1035

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SUVFan Champion Author Columbus Posts:13,933 Points:1,636,500 Joined:Oct 2008	Message Posted: Apr 25, 2012 11:35:06 AM Ignore SUVFan Report Abuse Glad to see this article make the day's top 5. I repeat my question from yesterday: Could there be a better use of our special forces than engaging in a little piracy?
DanMtz Champion Author Oakland Posts:3,370 Points:1,246,350 Joined:Oct 2009	Message Posted: Apr 25, 2012 9:43:35 AM Ignore DanMtz Report Abuse Good.
Agarre Champion Author Richmond Posts:1,335 Points:263,785 Joined:Feb 2012	Message Posted: Apr 24, 2012 11:19:47 PM Ignore Agarre Report Abuse ok
my2002m Champion Author Tulsa Posts:6,088 Points:1,673,205 Joined:Jul 2008	Message Posted: Apr 24, 2012 10:37:57 PM Ignore my2002m Report Abuse They should anchor them off of Somalia's coast.
ExplorerWA Champion Author Washington Posts:4,093 Points:800,075 Joined:Feb 2011	Message Posted: Apr 24, 2012 10:01:02 PM Ignore ExplorerWA Report Abuse Time will tell but it is interesting the amount of oil stored on those ships. China will buy it.
GatorGuy Champion Author Columbia Posts:2,238 Points:1,209,945 Joined:Jan 2009	Message Posted: Apr 24, 2012 4:28:06 PM Ignore GatorGuy Report Abuse Speculate that!
JXQW Champion Author Kansas City Posts:2,787 Points:684,925 Joined:Jul 2008	Message Posted: Apr 24, 2012 11:24:18 AM Ignore JXQW Report Abuse Would that really work?
radstoy Champion Author Pennsylvania Posts:16,459 Points:3,220,705 Joined:Feb 2003	Message Posted: Apr 24, 2012 10:54:44 AM Ignore radstoy Report Abuse Good point Gas Eyes
SUVFan Champion Author Columbus Posts:13,933 Points:1,636,500 Joined:Oct 2008	Message Posted: Apr 24, 2012 10:36:59 AM Ignore SUVFan Report Abuse Could there be a better use of our special forces than engaging in a little piracy?
GoLancer4 Champion Author Ohio Posts:1,787 Points:441,615 Joined:Sep 2011	Message Posted: Apr 24, 2012 10:31:11 AM Ignore GoLancer4 Report Abuse ok
Gas_Eyes Champion Author Dallas Posts:2,692 Points:647,785 Joined:Mar 2011	Message Posted: Apr 24, 2012 10:23:22 AM Ignore Gas_Eyes Report Abuse That's 80+ million barrels of oil in tankers. At a crude estimate price of $100/barrel, that's more than $8 billion dollars of revenue that is missing in the Iranian banks. Business in Iran is going down hill fast. The sanctions are working. If Iran decides to now be reasonable and give up their nuclear bomb making, the sanctions should be lifted. Now 80+ million barrels of oil will all of a sudden be dumped into the market. The oil price should plummet. A much as we hate the speculators, they are going to have a nightmare scenario. The most difficult part of this is when it will happen.
sydb7 Champion Author Atlanta Posts:3,563 Points:1,920,900 Joined:Mar 2003	Message Posted: Apr 24, 2012 10:02:06 AM Ignore sydb7 Report Abuse ok
bigoilscamsus Champion Author Lansing Posts:1,058 Points:48,265 Joined:Nov 2011	Message Posted: Apr 24, 2012 9:53:37 AM Ignore bigoilscamsus Report Abuse Protest high gas prices!! Picket the 15 highest priced gas stations in your area!! Join the protest at the WALK ON WASHINGTON and at all the other State Capitals on Friday June 1st 2012!! Bring your protest signs and let Big Oil know what you think of the obscene profits That Big Oil extorts from the American consumer!!
gws2980 Champion Author Philadelphia Posts:2,196 Points:504,040 Joined:Oct 2010	Message Posted: Apr 24, 2012 9:47:38 AM Ignore gws2980 Report Abuse Wait till they are hijacked
kgfinder Veteran Author St. Louis Posts:337 Points:146,335 Joined:Aug 2011	Message Posted: Apr 24, 2012 9:45:15 AM Ignore kgfinder Report Abuse I am glad the sanctions are working.
SnickersDog Champion Author Denver Posts:3,298 Points:683,910 Joined:Feb 2011	Message Posted: Apr 24, 2012 9:37:20 AM Ignore SnickersDog Report Abuse Time will take it's toll on them.
Tutootin Champion Author Toronto Posts:10,136 Points:3,080,355 Joined:Jun 2004	Message Posted: Apr 24, 2012 9:36:58 AM Ignore Tutootin Report Abuse RobertSpratt,Just what I was thinking. Ducks all line up in a row, waiting for one big hit!!!
kzza100 Champion Author New Jersey Posts:1,948 Points:577,070 Joined:Sep 2011	Message Posted: Apr 24, 2012 9:36:45 AM Ignore kzza100 Report Abuse ok
gilfarm Champion Author Alabama Posts:6,811 Points:1,951,765 Joined:Sep 2005	Message Posted: Apr 24, 2012 9:36:27 AM Ignore gilfarm Report Abuse Think they are starting to get the message?
FocusGuy Champion Author Seattle Posts:7,072 Points:1,415,680 Joined:Apr 2009	Message Posted: Apr 24, 2012 9:35:43 AM Ignore FocusGuy Report Abuse hope it will snuff em
Dale Jr. Champion Author Illinois Posts:16,244 Points:3,239,975 Joined:May 2004	Message Posted: Apr 24, 2012 9:35:36 AM Ignore Dale Jr. Report Abuse Barfood I was just thinking of that suggestion.
Ticobird Champion Author Huntsville Posts:3,246 Points:1,118,940 Joined:Oct 2009	Message Posted: Apr 24, 2012 9:35:30 AM Ignore Ticobird Report Abuse Maybe Iran's leaders(?) will come to their senses as the sanction screw tightens.
panj Champion Author Pennsylvania Posts:13,150 Points:1,113,750 Joined:Nov 2007	Message Posted: Apr 24, 2012 9:35:01 AM Ignore panj Report Abuse It's an investment!
Barfood Champion Author St. Louis Posts:3,311 Points:1,019,630 Joined:Jun 2009	Message Posted: Apr 24, 2012 9:34:35 AM Ignore Barfood Report Abuse Where's those Somalia pirates when you need them?
sivart Champion Author Arkansas Posts:18,245 Points:3,073,885 Joined:May 2004	Message Posted: Apr 24, 2012 9:33:56 AM Ignore sivart Report Abuse Maybe it's working....somewhat!
CTarp Champion Author Texas Posts:1,236 Points:610,520 Joined:Apr 2011	Message Posted: Apr 24, 2012 9:31:16 AM Ignore CTarp Report Abuse Good, make them uncomfortable.
jdhelm Champion Author Iowa Posts:11,893 Points:1,201,815 Joined:Dec 2009	Message Posted: Apr 24, 2012 9:30:36 AM Ignore jdhelm Report Abuse . . . . big deal, don't they still only have and produce only 4% of the world's oil? 4% This can't be any kind of a major factor for prices, can it?
Grismer Champion Author Kitchener-Waterloo Posts:8,549 Points:1,726,970 Joined:Apr 2008	Message Posted: Apr 24, 2012 9:28:41 AM Ignore Grismer Report Abuse Disturbing development to say the least.
plbell627 Champion Author Dayton Posts:5,158 Points:1,205,205 Joined:Mar 2007	Message Posted: Apr 24, 2012 9:28:08 AM Ignore plbell627 Report Abuse They are hoping that the sanctions will be lifted and then they can sell tha oil.
us30ride Champion Author Fort Wayne Posts:3,345 Points:715,560 Joined:Apr 2011	Message Posted: Apr 24, 2012 9:27:32 AM Ignore us30ride Report Abuse Better hope they do not sink!
dieselfiendSC Champion Author South Carolina Posts:2,196 Points:849,380 Joined:Nov 2008	Message Posted: Apr 24, 2012 9:27:31 AM Ignore dieselfiendSC Report Abuse Good
wark6 Sophomore Author Minnesota Posts:210 Points:1,886,580 Joined:Aug 2006	Message Posted: Apr 24, 2012 9:27:12 AM Ignore wark6 Report Abuse Hold the line and don't give in now. It seems to be working. Will Iran bend on the nuclear requirements? They are a stubborn bunch.
TruthMatters Champion Author New Jersey Posts:2,525 Points:536,460 Joined:Oct 2011	Message Posted: Apr 24, 2012 9:26:29 AM Ignore TruthMatters Report Abuse Some country will break thru the embargo line and get those crude on the cheap!
sramroop Champion Author Birmingham Posts:3,332 Points:742,030 Joined:Jul 2010	Message Posted: Apr 24, 2012 9:25:16 AM Ignore sramroop Report Abuse Rich will remain rich
egd Champion Author Twin Cities Posts:8,110 Points:2,122,200 Joined:Mar 2005	Message Posted: Apr 24, 2012 9:25:15 AM Ignore egd Report Abuse sanctions building up pressure
stadlgi Champion Author Akron Posts:2,206 Points:1,321,205 Joined:Jun 2004	Message Posted: Apr 24, 2012 9:24:56 AM Ignore stadlgi Report Abuse Of course they are. They better be figuring out how to make oil into food.
PrepHermit Champion Author New Jersey Posts:8,116 Points:1,647,105 Joined:Aug 2008	Message Posted: Apr 24, 2012 9:24:08 AM Ignore PrepHermit Report Abuse Sounds like a glut in the market to me.
millerin Champion Author Orlando Posts:2,322 Points:483,915 Joined:Jan 2012	Message Posted: Apr 24, 2012 9:24:03 AM Ignore millerin Report Abuse hmmm...
kyrunner Champion Author Lexington Posts:8,992 Points:1,702,100 Joined:Aug 2008	Message Posted: Apr 24, 2012 9:23:57 AM Ignore kyrunner Report Abuse Tough being them isn't it? Hope it gets worse for them very soon.
twiper1 Champion Author San Diego Posts:7,847 Points:1,608,985 Joined:Oct 2008	Message Posted: Apr 24, 2012 9:23:34 AM Ignore twiper1 Report Abuse poor iran
1stClicker Champion Author Texas Posts:5,331 Points:2,246,470 Joined:Oct 2005	Message Posted: Apr 24, 2012 9:23:13 AM Ignore 1stClicker Report Abuse If they want to rattle the sword and ignore the world they deserve what they get.
mickealo Champion Author Spokane Posts:6,177 Points:2,147,360 Joined:Oct 2006	Message Posted: Apr 24, 2012 9:23:04 AM Ignore mickealo Report Abuse ok now what
Bicycle_Rider Champion Author Chicago Posts:13,989 Points:2,762,185 Joined:Apr 2005	Message Posted: Apr 24, 2012 9:23:02 AM Ignore Bicycle_Rider Report Abuse They better watch out for Samali Pirates.
Hi1 Champion Author Ontario Posts:4,870 Points:1,727,535 Joined:Jun 2007	Message Posted: Apr 24, 2012 9:23:01 AM Ignore Hi1 Report Abuse Ok.
eaglev Champion Author Oklahoma City Posts:4,001 Points:937,155 Joined:Jul 2005	Message Posted: Apr 24, 2012 9:23:00 AM Ignore eaglev Report Abuse Someone will buy their oil.
daquanabe Champion Author Houston Posts:1,828 Points:375,850 Joined:Oct 2009	Message Posted: Apr 24, 2012 9:22:45 AM Ignore daquanabe Report Abuse We'll see.
sit Champion Author Cleveland Posts:5,215 Points:1,935,645 Joined:Feb 2006	Message Posted: Apr 24, 2012 9:22:29 AM Ignore sit Report Abuse OK
sbazz Champion Author Cleveland Posts:1,334 Points:247,995 Joined:Mar 2011	Message Posted: Apr 24, 2012 9:22:20 AM Ignore sbazz Report Abuse Iran deserves what they are getting
tauro514 Champion Author Connecticut Posts:3,155 Points:1,804,015 Joined:Oct 2006	Message Posted: Apr 24, 2012 9:21:52 AM Ignore tauro514 Report Abuse ok...speculators...all over the world..
40mpgsaturn Champion Author Wisconsin Posts:2,500 Points:522,380 Joined:Jun 2011	Message Posted: Apr 24, 2012 9:20:25 AM Ignore 40mpgsaturn Report Abuse I have no sympathy for Iran!