Recent speculation that China is turning away from Iranian crude imports under the threat of stricture US sanctions is missing the bigger picture, according to Spain’s Medco Shipbrokers.
A VLCC is currently heading to China with the country’s first shipment of oil from an Iraqi oilfield that resumed production last year.
Oil analytics firm Kpler said China will receive a 2m-barrel shipment of Qaiyarah crude by the end of December on the 304,000-dwt City of Tokyo (built 2004).
