Kharg Light: Europe’s Door Back to Iranian Crude

Posted on: 22 June, 2026

If Europe wants to stay the course on Russia, Kharg Light is the crude that keeps the wolves from the door.

Implementation Day: 16th January 2016.

The year that followed looked like this in terms of European consumption of Iranian crude alongside other Arabian Gulf grades.

JANUARY 2016

Vessel	Quantity	Laydays	Route	Rate	Charterer
NORDIC TBN	140,000MT	29/01	BASRAH/MED-UKC	WS 45-44	UNIPEC
MOSCOW SPIRIT	140,000MT	25-26/01	BASRAH/SPAIN	WS 42.5	REPSOL
RED MOON	140,000MT	23-25/01	BASRAH/ITALY	WS 45	SARAS
BORDEIRA	140,000MT	24/01	BASRAH/ITALY	WS 70	PETRACO
NORDIC PASSAT	140,000MT	21/01	BASRAH/MED-UKC	WS 45-44	UNIPEC
GENER8 SPARTIATE	140,000MT	18/01	AG/MED-UKC	RNR	P66

Basrah tries to defend its market share, but the Iraqi basket is notoriously high in sulphur, with even Basrah Light sitting near 2.5%.

Kharg Light is structurally better, cleaner and higher yielding in feedstock than anything the Iraqis have to offer.

Kharg Light yield: VGO 24.5%, Gasoil 21.0%, Vacuum Residue (SRFO) 19.5%, Kero-Jet 18.5%, Naptha 3.5%, Light Ends-LPG 3.0%.

If the EU wants to stay the course with being anti-Russia, then this is the crude to keep the wolves from the door.

Kharg Light beats Urals on jet fuel/kero, although Urals holds the edge for straight-run diesel.

Given the parties mentioned below, the political lobbying will be intense to have this approved for Europe.

FEBRUARY 2016

Vessel	Quantity	Laydays	Route	Rate	Charterer / Notes
NORDIC PASSAT	140,000MT	29/02	BASRAH/SPAIN	WS 67.5	REPSOL
GEORGE S.	140,000MT	28/02	BASRAH/ITALY	WS 51.75	ENI
FOUR SMILE	140,000MT	28/02	BASRAH/ITALY	WS 51.75	ENI-FAILED
CAP FELIX	140,000MT	26-27/02	BASRAH/FRANCE	WS 42.5	TOTAL-FAILED
LIBYA	140,000MT	26/02	BASRAH/GREECE	O/P	ST SHIPPING
PATROCLUS	140,000MT	25/02	BASRAH/MED-UKC	WS 50	BP
SEARACER	140,000MT	25/02	BASRAH/MED-UKC	WS 68	P66
STENA TBN	140,000MT	23/02	BASRAH/FRANCE	WS 67.5	TOTAL
DIMITRIS P	140,000MT	22/02	BASRAH/SPAIN	WS 53.75	REPSOL
NORDIC GRACE	140,000MT	20/02	BASRAH/ITALY	WS 75	SARAS
DILONG SPIRIT	140,000MT	19/02	BASRAH/MED-UKC	WS 55	PETROINEOS
LEONID LOZA	140,000MT	18/02	BASRAH/ITALY	WS 55	API
RIDGEBURY NICO’ A	140,000MT	18/02	BASRAH/ITALY	WS 55	API-FAILED
MONTE TOLEDO	140,000MT	14-16/02	KHARG/SPAIN	O/P	CEPSA *Discharged Algeciras, Spain (MOEVE)
KAMARI	140,000MT	11-13/02	BASRAH/GREECE	O/P	AVIN
STENA SUPREME	140,000MT	11/02	BASRAH/MED-UKC	RNR	SHELL
SONANGOL KASSANJE	140,000MT	09/02	BASRAH/MED-UKC	RNR	LITASCO-FAILED?
DISTYA AKULA	140,000MT	06-08/02	KHARG/ROMANIA	RNR	LITASCO *Discharged Constanta, Romania (LUKOIL)
EUROSPIRIT	135,000MT	06-08/02	KHARG/ROMANIA	RNR	LITASCO-FAILED
SONANGOL KASSANJE	140,000MT	06-08/02	KHARG/ROMANIA	WS 52.5	LITASCO-FAILED

Aframax ‘Ypapanti’, which recently loaded a Nile from Bashayer for Vitol, looks like it is going into the Black Sea for the first time. This would suggest the Carlyle/Vitol deal for Lukoil GmbH’s downstream assets has now gone through and Vitol are now controlling Romania and Bulgaria as a potential outlet for Kharg Light.

MARCH 2016

Vessel	Quantity	Laydays	Route	Rate	Charterer / Notes
NAUTILUS	140,000MT	25/03	BASRAH/ITALY	WS 55	SARAS=USD 1,694,580 BASIS SARROCH
KAVERI/ZENITH SP’	140,000MT	23-25/03	BASRAH/SPAIN	WS 38.5	REPSOL=USD 1,407,216 BASIS TARRAGONA
SILIA T	140,000MT	21/03	BASRAH/MED-UKC	O/P	LITASCO
RIDGEBURY ASTARI	140,000MT	25-26/03	BASRAH/FRANCE	WS 42.5	TOTAL-FAILED
BOUBOULINA	140,000MT	24-25/03	KHARG/SPAIN	RNR	CEPSA *Discharged Algeciras, Spain (MOEVE)
ZENITH SPIRIT	140,000MT	16/03	BASRAH/ITALY	RNR	API
EVRIDIKI	140,000MT	16/03	BASRAH/ITALY	WS 47.5	ENI
CAP CHARLES	140,000MT	15/03	BASRAH/U.S GULF	WS 45	P66=USD 2,440,430 BASIS HOUSTON
ACHILLEAS	140,000MT	14/03	BASRAH/MED-UKC	WS 45	GUNVOR/CLEARLAKE
YANNIS P	140,000MT	12-14/03	BASRAH/ITALY	WS 45	API OR IPLOM
GODAVARI SPIRIT	140,000MT	13/03	BASRAH/MED-UKC	WS 45	SHELL
TEEKAY TBN	140,000MT	12/03	BASRAH/ITALY	WS 45	PETRACO-FAILED?
ERVIKEN	140,000MT	11/03	BASRAH/SPAIN	WS 46.5	CEPSA
TEEKAY TBN	140,000MT	10/03	BASRAH/MED-UKC	WS 45	VITOL
LIBYA	140,000MT	06/03	BASRAH/GREECE	WS 45	AVIN=USD 1,357,460 BASIS AGIO THEODOROI
SEAVOYAGER	140,000MT	03/03	KHARG/FRANCE	2.0M	TOTAL *Discharged Fos Sur Mer, France (TOTAL)

CEPSA + GALP, now MOEVE, like Kharg Light for that southern Iberian coastline, as do TOTSA for anywhere in France.

Freight is, for now, 140,000mt x Worldscale 580, which would make Persian Gulf to Spain USD 19 million for 1 million barrels. Freight is 13 times higher than it was in 2016.

APRIL 2016

Vessel	Quantity	Laydays	Route	Rate	Charterer / Notes
CAPTAIN MICHAEL	140,000MT	30/04	BASRAH/MED-UKC	WS 62.5	PETROINEOS
UNITED EMBLEM	140,000MT	30/04	BASRAH/FRANCE	WS 72.5	TOTAL-REPLACEMENT
SCF URAL	140,000MT	25/04	BASRAH/MED-UKC	RNR	BP
SAN SABA	140,000MT	23/04	BASRAH/ITALY	WS 77.5	SARAS=USD 2,152,590 BASIS SARROCH
DS WARRIOR	140,000MT	22/04	BASRAH/SPAIN	WS 62.5	REPSOL=USD 1,926,000 BASIS TARRAGONA
RED MOON	140,000MT	20/04	BASRAH/SPAIN	WS 75	REPSOL=USD 2,196,200 BASIS TARRAGONA
ADVANTAGE SOLAR	140,000MT	18/04	BASRAH/MED-UKC	RNR	LITASCO
HAMILTON SPIRIT	140,000MT	18/04	BASRAH/ITALY	RNR	PETRACO
MARAN CAPELLA	140,000MT	18/04	BASRAH/ITALY	WS 62.5	ENI
NORDIC SKIER	140,000MT	17/04	BASRAH/USAC-USG	WS 67.5	P66
NANTUCKET	140,000MT	14/04	BASRAH/GREECE	WS 82.5	AVIN
FAIRWAY	140,000MT	13/04	BASRAH/MED-UKC	WS 60	LITASCO
NAVARINO	140,000MT	11/04	BASRAH/GREECE	O/P	AVIN
HRVATSKA	135,000MT	08/04	BASRAH/U.S GULF	WS 60	P66
CRESCENT MOON	140,000MT	07/04	BASRAH/SPAIN	WS 45	CEPSA
RIDGEBURY ASTARI	135,000MT	06/04	RASTAN/ITALY	WS 60	OMV=USD 1,769,750 BASIS TRIESTE
SCF CAUCASUS	140,000MT	06/04	BASRAH/MED-UKC	RNR	SOCAR
AEGEAN ANGEL	140,000MT	05/04	BASRAH/ITALY	WS 57.5	ENI
GENER8 PHOENIX	140,000MT	05/04	BASRAH/MED-UKC	WS 57.5	SHELL
HRVATSKA	140,000MT	02/04	BASRAH/FRANCE	WS 53	TOTAL-FAILED
AST SUNSHINE	140,000MT	02/04	BASRAH/FRANCE	WS 51	TOTAL-FAILED

Italy stands to benefit arguably the most from Iran being approved for Europe, but a lot has changed in 10 years and it is no longer wholly Italian.

Augusta – Sonatrach.

Falconara – IPLOM, supply and financing done by Petraco.

Genoa – Gruppo API bought by SOCAR.

Milazzo – 50/50 JV between ENI & KPC.

Santa Panagia Bay – now controlled by Trafigura instead of Lukoil.

Sarroch – SARAS bought by Vitol.

Taranto – 50/50 JV between ENI & Total.

MAY 2016

Vessel	Quantity	Laydays	Route	Rate	Charterer / Notes
ADVANTAGE SOLAR	140,000MT	31/05	BASRAH/MED-UKC	O/P	SHELL
ADVANTAGE SOLAR	140,000MT	31/05	BASRAH/MED-UKC	WS 42.5	BP
DYNACOM TBN	140,000MT	27/05	BASRAH/FRANCE	WS 47.5	TOTAL-REPLACEMENT
DELTA HELLAS	140,000MT	27/05	BASRAH/FRANCE	WS 47.5	TOTAL-RAN LATE!
CAP DIAMANT	140,000MT	25/05	BASRAH/MED-UKC	WS 42.5	UNIPEC
JAG LOK	140,000MT	23/05	BASRAH/SPAIN	WS 42.5	REPSOL
FELICITY	140,000MT	20-22/05	KHARG/FRANCE	WS 51.5	TOTAL-FAILED
UNITED DYNAMIC	140,000MT	20-22/05	KHARG/FRANCE	WS 52.5	TOTAL-FAILED
KAMARI	135,000MT	19-20/05	KHARG/GREECE	WS 50	HELLENIC *Discharged Pachi, Greece (HELLENIC)
JAG LALIT	140,000MT	18/05	BASRAH/SPAIN	WS 53.5	CEPSA
SUEZ GEORGE	140,000MT	17/05	BASRAH/ITALY	WS 42.5	ENI
OTTOMAN EQUITY	140,000MT	14-15/05	KHARG/SPAIN	RNR	CEPSA *Discharged Algeciras, Spain (MOEVE)
EUROPEAN SPIRIT	140,000MT	12/05	BASRAH/USG-USWC	O/P	P66
UNITED LEADERSHIP	140,000MT	12/05	BASRAH/USG-USWC	O/P	P66
ALMI SUN	140,000MT	08/05	BASRAH/MED-UKC	WS 45	LITASCO
SILIA T	140,000MT	08/05	BASRAH/MED-UKC	O/P	LITASCO
NORDIC BREEZE	140,000MT	08/05	BASRAH/ITALY	WS 57.5	SARAS
SCF CAUCASUS	140,000MT	06/05	BASRAH/ITALY	WS 42.5	API
LENI P	140,000MT	04/05	BASRAH/GREECE	WS 42.5	AVIN

The Greeks are a fan of Kharg Light, Hellenic mentioned but also Motor Oil Hellas.

JUNE 2016

Vessel	Quantity	Laydays	Route	Rate	Charterer / Notes
EUROHOPE	140,000MT	27-29/06	MAF/ROMANIA	WS 40	TIS
DELTA HARMONY	140,000MT	28/06	BASRAH/SPAIN	WS 55	REPSOL
CAPE BASTIA	140,000MT	27/06	BASRAH/MED-UKC	WS 45	SHELL
JIAOLONG SPIRIT	140,000MT	27/06	BASRAH/MED-UKC	WS 45	SHELL
TATAKI	140,000MT	25/06	BASRAH/MED-UKC	WS 72.5	UNIPEC-REPLACEMENT
ORPHEAS	140,000MT	25/06	BASRAH/MED-UKC	WS 65	UNIPEC-FAILED
VAIL SPIRIT	140,000MT	26/06	BASRAH/USG-USWC	WS 45	P66
ORPHEAS	140,000MT	25/06	BASRAH/MED-UKC	WS 65	UNIPEC
AEGEAN HORIZON	140,000MT	25/06	BASRAH/GREECE	WS 45	AVIN-REPLACEMENT
NAUTILUS	140,000MT	25/06	BASRAH/GREECE	RNR	AVIN-FAILED
KAPSALI	140,000MT	23/06	BASRAH/SPAIN	WS 35	REPSOL
SONANGOL P AMBOIM	140,000MT	23/06	BASRAH/SPAIN	WS 42.5	REPSOL
NAUTILUS	140,000MT	23-24/06	KHARG/FRANCE	WS 50	TOTAL *Discharged Donges, France (TOTAL)
EVERBRIGHT	140,000MT	22/06	BASRAH/MED-UKC	WS 45	UNIPEC
UNITED KALAVRYTA	135,000MT	20-22/06	KHARG/GREECE	1.418M	HELLENIC *Discharged Pachi, Greece (HELLENIC)
NAUTIC	140,000MT	20-22/06	KHARG/GREECE	1.215M	HELLENIC-FAILED
AEGEAN HORIZON	140,000MT	20/06	BASRAH/MED-UKC-USG	WS 42.5	GLENCORE
APACHE L	140,000MT	20/06	BASRAH/MED-UKC-USG	WS 42.5	GLENCORE
ARCHANGEL	140,000MT	19/06	BASRAH/ITALY	WS 32.5	IPLOM
GENER8 HORN	140,000MT	17/06	BASRAH/ITALY	WS 45	ENI
AIAS	140,000MT	14/06	BASRAH/MED-UKC	RNR	SHELL
DELTA IOS	140,000MT	13-14/06	KHARG/FRANCE	WS 47.5	REPSOL *Discharged Cartagena, Spain (REPSOL)
MINERVA SYMPHONY	140,000MT	12-14/06	KHARG/ITALY	WS 45	SARAS *Discharged Sarroch, Italy (SARAS)
EUROSPIRIT	140,000MT	12-14/06	KHARG/ITALY	WS 37.5	SARAS-FAILED
TEEKAY TBN	140,000MT	13/06	BASRAH/SPAIN	WS 32.75	CEPSA
DELTA HELLAS	140,000MT	11/06	KHARG/FRANCE	WS 42.5	TOTAL-FAILED
MARAN PYTHIA	140,000MT	11/06	BASRAH/ITALY	WS 31.25	ENI
EURPSIRIT	140,000MT	09/06	BASRAH/MED-UKC	WS 31.25	LITASCO
NOBLEWAY	140,000MT	09/06	BASRAH/MED-UKC	O/P	LITASCO
TONOS	140,000MT	09/06	BASRAH/MED-UKC	WS 32.75	PETROINEOS
AFRODITI	140,000MT	08/06	BASRAH/MED-UKC	WS 32.5	UNIPEC
ARCHANGEL	140,000MT	07/06	BASRAH/ITALY	WS 33.75	ENI
TONY	140,000MT	05/06	BASRAH/MED-UKC	RNR	BP
FRIO	140,000MT	05/06	BASRAH/MED-UKC	WS 35	BP
CAPE BARI	140,000MT	04/06	BASRAH/MED-UKC	RNR	SHELL
MARE DORICUM	140,000MT	04/06	BASRAH/MED-UKC	RNR	SHELL
SONANGOL NAMIBE	140,000MT	01/06	AG/USG-USWC	RNR	VALERO

Vitol are owners of what was SARAS, so they get another willing refinery in Sarroch, Sardinia.

They also have Varo Energy, which corners the Swedish market.

JULY 2016

Vessel	Quantity	Laydays	Route	Rate	Charterer / Notes
NICOLAOS	140,000MT	31/07	BASRAH/MED-UKC-USG	WS 50	P66
DELTA KANARIS	140,000MT	28/07	BASRAH/SPAIN	WS 45	REPSOL
NORDIC COSMOS	140,000MT	16/07	BASRAH/ITALY	WS 40	ENI
NORDIC TBN	140,000MT	13/07	BASRAH/MED-UKC	RNR	VITOL
STENA TBN	140,000MT	12/07	BASRAH/SPAIN	WS 40	CEPSA
WHITE MOON	140,000MT	11/07	BASRAH/GREECE	WS 50	AVIN
NORDIC TBN	140,000MT	10/07	BASRAH/MED-UKC	RNR	UNIPEC
TRIATHLON	140,000MT	10/07	BASRAH/MED-UKC	WS 40	PETROINEOS
CAPTAIN MICHAEL	140,000MT	09/07	BASRAH/U.S GULF	WS 38.25	P66
STENA TBN	140,000MT	08/07	BASRAH/MED-UKC	WS 40	BBNAFT
NORDIC TBN	140,000MT	07/07	BASRAH/GREECE	WS 37.5	AVIN
SUEZ RAJAN	140,000MT	06/07	BASRAH/MED-UKC	WS 37.5	SHELL
DILIGENT WARRIOR	140,000MT	01-02/07	KHARG/SPAIN	WS 51.25	CEPSA *Discharged Algeciras, Spain (MOEVE)
OLYMPIC FLAG	140,000MT	29-01/07	KHARG/FRANCE	WS 47.5	TOTAL *Discharged Rotterdam, Netherlands (TOTAL)

AUGUST 2016

Vessel	Quantity	Laydays	Route	Rate	Charterer / Notes
DELTA EURYDICE	140,000MT	10/08	KHARG/SPAIN	WS 37.5	REPSOL *Discharged Bilbao, Spain (REPSOL)
DIMITRIS P	140,000MT	08/08	BASRAH/ITALY	WS 30	ENI
BRIGHTWAY	140,000MT	07/08	BASRAH/ITALY	RNR	PETRACO
STENA SUPREME	140,000MT	05/08	BASRAH/GREECE	1.575M	HELLENIC
MINERVA DOXA	140,000MT	01/08	BASRAH/SPAIN	WS 50	CEPSA

Repsol will be there opportunistically, as it helps to apply price pressure on the Iraqis.

SEPTEMBER 2016

Vessel	Quantity	Laydays	Route	Rate	Charterer / Notes
MARAN PENELOPE	140,000MT	29/09	KUWAIT/FRANCE	WS 38.25	TOTAL
NORDIC POLLUX	140,000MT	28-29/09	QATAR/MED-UKC	WS 52	P66-GOING N.CHINA!
DEMETRIOS	140,000MT	28/09	BASRAH/GREECE	WS 59	AVIN
EUROPEAN SPIRIT	140,000MT	27/09	BASRAH/U.S GULF	O/P	P66
HS ALCINA	140,000MT	26/09	BASRAH/SPAIN	WS 30	REPSOL
OTTOMAN EQUITY	140,000MT	25-26/09	KHARG/FRANCE	WS 41.5	TOTAL *Discharged Fos Sur Mer, France (TOTAL)
EUROHOPE	140,000MT	24-25/09	KHARG/TURKEY	RNR	TUPRAS *Discharged Aliaga, Turkey (TUPRAS)
FINESSE	140,000MT	24-25/09	KHARG/TURKEY	WS 46.75	TUPRAS *Discharged Aliaga, Turkey (TUPRAS)
DISTYA AKULA	140,000MT	24-25/09	KHARG/TURKEY	1.55M	TUPRAS-FAILED
JAG LALIT	140,000MT	24/09	BASRAH/PORTUGAL	WS 32.5	PETROGAL-USD 1,351,660 BASIS SINES
TAMARA	140,000MT	17-19/09	KHARG/ITALY	1.551M	SARAS *Discharged Sarroch, Italy (SARAS)
BARBAROSA	140,000MT	18/09	BASRAH/MED-UKC	WS 35	SHELL-REPLACEMENT
MILITOS	140,000MT	18/09	BASRAH/MED-UKC	WS 60	SHELL-FAILED
LA MER	140,000MT	14/09	KHARG/TURKEY	WS 35	TUPRAS *Discharged Aliaga, Turkey (TUPRAS)
EUROHOPE	140,000MT	14/09	KHARG/TURKEY	WS 35	TUPRAS-FAILED
GENER8 SPYRIDON	140,000MT	07/09	BASRAH/GREECE	WS 40	AVIN-USD 1,295,520 BASIS AGIO THEODOROI
DILIGENT WARRIOR	140,000MT	04-05/09	KHARG/TURKEY	WS 42.5	CEPSA *Discharged Huelva, Spain (MOEVE)

Turkey has always liked Kharg Light, as has Syria, which had it as its only default lifeline up until Russia got sanctioned.

OCTOBER 2016

Vessel	Quantity	Laydays	Route	Rate	Charterer / Notes
RIDGEBURY NICO’ A	140,000MT	25-27/10	KUWAIT/ITALY	WS 54.75	KPC
CAP FELIX	140,000MT	19-20/10	KHARG/FRANCE	WS 52.5	LUKOIL *Discharged Santa Panagia Bay, Italy (LUKOIL)
CE-HAMILTON	140,000MT	18-19/10	KHARG/TURKEY	WS 60	TUPRAS *Discharged Aliaga, Turkey (TUPRAS)
KAMARI	140,000MT	18-20/10	KHARG/GREECE	WS 47.5	HELLENIC *Discharged Pachi, Greece (HELLENIC)
CAPE BALDER	140,000MT	17/10	KHARG/TURKEY	WS 47.5	TUPRAS *Discharged Aliaga, Turkey (TUPRAS)
MELTEMI	140,000MT	15-16/10	KHARG/SPAIN	WS 50	REPSOL *Discharged Cartagena, Spain (REPSOL)
FRATERNITY	140,000MT	15-16/10	KHARG/SPAIN	O/P	REPSOL-FAILED
MARIA	135,000MT	14-16/10	KHARG/FRANCE	WS 42.5	TOTAL *Discharged Fos Sur Mer, France (TOTAL)
NAUTIC	140,000MT	11/10	KHARG/TURKEY	WS 44.75	TUPRAS *Discharged Aliaga, Turkey (TUPRAS)
LIBYA	140,000MT	11/10	KHARG/TURKEY	WS 45	TUPRAS-FAILED
UNITED LEADERSHIP	140,000MT	10/10	BASRAH/U.S GULF	O/P	P66
FILIKON	135,000MT	07-10/10	KHARG/FRANCE	WS 42.5	TOTAL *Discharged Fos Sur Mer, France (TOTAL)
SONANGOL RANGEL	140,000MT	07/10	BASRAH/SPAIN	WS 32.5	CEPSA
CHEROKEE	140,000MT	06/10	BASRAH/MED-UKC	WS 37.5	LITASCO-REPLACEMENT
DS WARRIOR	140,000MT	06/10	BASRAH/MED-UKC	WS 34	LITASCO-FAILED
GENER8 PHOENIX	140,000MT	05/10	BASRAH/ITALY	WS 32.5	ENI
KAVERI SPIRIT	140,000MT	05/10	AG/MED-UKC-USG	WS 35	VITOL
EUROPEAN SPIRIT	140,000MT	04/10	BASRAH/U.S GULF	O/P	P66
MINERVA DOXA	140,000MT	02-04/10	KHARG/ITALY	WS 45	SARAS *Discharged Sarroch, Italy (SARAS)
NAUTIC	140,000MT	02-04/10	KHARG/ITALY	WS 38.5	SARAS-FAILED
NORDIC SIRIUS	140,000MT	03/10	BASRAH/GREECE	WS 32.5	AVIN
RIO SPIRIT	140,000MT	02/10	BASRAH/MED-UKC	WS 35	SHELL-REPLACEMENT
NORDIC MOON	140,000MT	02/10	BASRAH/MED-UKC	WS 35	SHELL-FAILED

Trafigura have the exclusive contract into Santa Panagia Bay, Sicily.

It would make sense for them to button up Sonatrach at Augusta, which shares the same land mass.

NOVEMBER 2016

Vessel	Quantity	Laydays	Route	Rate	Charterer / Notes
SEACROSS	135,000MT	28-29/11	BASRAH/MED-UKC	WS 58.75	SHELL
NORDIC COSMOS	135,000MT	27/11	KUWAIT/U.S GULF	WS 52.5	CHEVRON
OTTOMAN INTEGRITY	140,000MT	20-22/11	KHARG/ITALY	RNR	LUKOIL *Discharged Santa Panagia Bay, Italy (LUKOIL)
FAIRWAY	140,000MT	16-18/11	ZIRKU/FRANCE	RNR	TOTAL
SEARACER	140,000MT	15-16/11	RASTAN/FRANCE	WS 54	TOTAL
NORDIC FREEDOM	140,000MT	06/11	BASRAH/MED-UKC	WS 47.5	SHELL

DECEMBER 2016

Vessel	Quantity	Laydays	Route	Rate	Charterer / Notes
UNITED LEADERSHIP	140,000MT	28-31/12	KUWAIT/FRANCE	WS 47.5	TOTAL
NORDIC SKIER	140,000MT	30/12	BASRAH/MED-UKC	WS 47.5	BP
MELTEMI	140,000MT	27-29/12	KHARG/ITALY	1.73M	OMV *Discharged Taranto+Genoa, Italy (ENI+IPLOM)
VILAMOURA	140,000MT	27-29/12	KHARG/POLAND	3.153M	PKN ORLEN *Discharged Butinge+Gdansk, Poland (PKN ORLEN)
DELTA HELLAS	140,000MT	26-27/12	KHARG/TURKEY	2.109M	TUPRAS *Discharged Aliaga+Tutuncifilik, Turkey (TUPRAS)
FAIRWAY	140,000MT	29/12	BASRAH/FRANCE	WS 67.5	TOTAL-FAILED
N.APOLLO/CROSS	140,000MT	28/12	BASRAH/MED-UKC	WS 57.5	UNIPEC
NOBLEWAY	140,000MT	28/12	BASRAH/MED-UKC	O/P	LITASCO
DHT TARGET	140,000MT	28/12	BASRAH/MED-UKC	WS 70	LITASCO-FAILED
NORDIC CASTOR	140,000MT	26-28/12	BASRAH/MED-UKC	WS 47.5	UNIPEC
MARAN CAPELLA	140,000MT	26-28/12	BASRAH/MED-UKC	WS 42.5	UNIPEC-FAILED!
NORDIC AURORA	140,000MT	25/12	BASRAH/PORTUGAL	WS 45	PETROGAL=USD 1,615,760 BASIS SINES
SPYROS K	140,000MT	23/12	BASRAH/SARDINIA	WS 48.75	SARAS=USD 1,604,893 BASIS SARROCH
NORDIC CASTOR	140,000MT	21/12	BASRAH/MED-UKC	WS 49	KOCH-FAILED!
SILVIA I	140,000MT	20-21/12	KHARG/TURKEY	2.016M	TUPRAS *Discharged Tutuncifilik, Turkey (TUPRAS)
DELTA EURYDICE	140,000MT	18-19/12	LAVAN/TURKEY	2.481M	TUPRAS *Discharged Aliaga, Turkey (TUPRAS)
AFRODITI	140,000MT	16-19/12	BASRAH/MED-UKC	WS 72.5	VITOL
FRONT ULL	140,000MT	16-19/12	BASRAH/MED-UKC	WS 62.5	VITOL-FAILED!
HRVATSKA	140,000MT	18/12	BASRAH/SPAIN	WS 95	REPSOL
SALINA	140,000MT	18/12	BASRAH/SPAIN	WS 82.5	REPSOL-FAILED!
STENA SUEDE	140,000MT	18/12	KHARG/FRANCE	O/P	TOTAL *Discharged Le Havre, France (TOTAL)
VAIL SPIRIT	140,000MT	18/12	RASTAN/FRANCE	WS 45	TOTAL
MINERVA VERA	140,000MT	17/12	KHARG/GREECE	2.8M	HELLENIC *Discharged Pachi, Greece (HELLENIC)
CHIOS	140,000MT	17/12	BASRAH/MED-UKC	WS 72.5	OTI-FAILED!
ALMI VOYAGER	140,000MT	17/12	BASRAH/SPAIN	WS 51-49	REPSOL-FAILED
ASHKINI SPIRIT	140,000MT	17/12	BASRAH/SPAIN	WS 67.5	REPSOL-FAILED
SUEZ GEORGE	140,000MT	15/12	BASRAH/MED-UKC	WS 72.5	UNIPEC
OLYMPIC FLAG	140,000MT	14-15/12	KHARG/GREECE	2.806M	HELLENIC *Discharged Pachi, Greece (HELLENIC)
ANTIGUA I	140,000MT	14-15/12	KHARG/GREECE	WS 109	HELLENIC-FAILED!
GENER8 HARRIET G	135,000MT	14/12	BASRAH/PORTUGAL	WS 48.5	PETROGAL
MARAN PLATO	140,000MT	12/12	BASRAH/MED-UKC	WS 50-48	SHELL OR SOCAR
ALMI VOYAGER	140,000MT	11/12	BASRAH/ITALY	WS 51	ENI-FAILED
KRITI SPIRIT	135,000MT	09/12	BASRAH/GREECE	RNR	AVIN
AMORE MIO II	140,000MT	03-04/12	KHARG/MED-UKC	WS 76.25	LUKOIL *Discharged Santa Panagia Bay, Italy (LUKOIL)
GREEN WARRIOR	100,000MT	01/12	BASRAH/ITALY	RNR	API
GEMINI TBN	135,000MT	01/12	AG/FRANCE	WS 42.5	TOTAL

It takes a good year of KYC before you see the likes of OMV or PKN Orlen start dipping their toe in, but that could make for an opportunity to offer to carry that BL for them in the meantime.

Crude: Iraq – “Al-jar qabl al-dar”

20/07/2026

'Big Picture' Regional Thoughts