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Iran oil shipment to China possibly slowed by freight dispute
- Iran: Wednesday, July 04 - 2012 at 11:00
A dispute between Chinese refining giant Sinopec and shipper National Iranian Tanker Co (NITC) over freight terms is threatening the delivery of millions of barrels of Iranian crude to its top buyer, China, Reuters has reported, citing industry sources. No vessels have been named to carry the 12 million barrels of crude that China has nominated for loading in Iran in the first 20 days of July, said the sources. "There is some problem between NITC and (Sinopec's trading arm) Unipec over the freight issue," said an Iranian oil official who requested anonymity as he was not authorised to speak to the media. "Unipec has proposed a number and it's now under consideration by NITC. I hope this can be solved very soon," the official said.
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