Sa-Oceania

The US Office of Foreign Assets Control (USB) has blacklisted the two tankers 'Abyss' and 'Oceania' and four shipping companies for their ties to Sa’id al-Jamal, a Houthi financial facilitator, and the Quds Force of the Islamic Revolutionary Guard Corps. This action marked the sixth time Al-Jamal has been targeted by the USB since December. Al-Jamal’s networks help facilitate the export of Iranian products to benefit the IRGC and the Houthis. One of the sanctioned. The 'Abyss' was involved in a previous incident with Euronav in 2023. The 'Oceania', previously owned by Euronav and now named 'SA Oceania', after being sold, participated in a STS transfer of around 500,000 barrels of fuel oil from the 'Abyss' in March 2023. The origin of the Iranian cargo being transported remains unknown.

Euronav Tankers NV (“Euronav” or the “Company”) announces that it has acquired the ULCC Seaways Laura Lynn from Oceania Tanker Corporation, a subsidiary of International Seaways. Euronav renamed the ULCC as Oceania and registered it under the Belgian flag.

Oil traders have booked at least 12 tankers to store 25 million barrels of crude at sea in a further sign of a build-up in global stocks, according to shipping sources and fixture data. At least 11 very large crude carriers (VLCCs) have been reported as booked with storage options, shipping sources and fixture lists show, rising from around five vessels at the end of last week. Each VLCC can hold a maximum of 2 million barrels of oil. Separately, the Ti Oceania – one of the world’s biggest oil tankers, known as an ultra-large crude carrier with a 3 million barrel capacity – has been booked to store crude, the data and market sources say.