Exclusive: As Iran’s oil exports surge, international tankers help ship its fuel

An Iranian military fighter plane flies past an oil tanker during naval manoeuvres in the Gulf and Sea of OmanMore than 20 European and Asian-owned supertankers are shipping Iranian crude oil, data seen by Reuters shows, allowing Tehran to ramp up exports much faster than market analysts had expected following the lifting of Western sanctions in January. Iran had been struggling as recently as April to find partners to ship its crude, but after an agreement on a temporary insurance fix more than a third of Iran’s crude shipments are now being handled by foreign vessels. “Charterers are buying cargo from Iran and the rest of the world is OK with that,” said Odysseus Valatsas, chartering manager at Dynacom Tankers Management.