Iran's Persian Gulf Strait Authority said it will take legal action against Sinokor tankers. Sinokor is the world's biggest oil tanker owner and has carried millions of barrels out of the Strait of Hormuz in recent weeks.
Iran's Persian Gulf Strait Authority (PGSA) said it would take legal action against tankers belonging to Sinokor, according to Bloomberg. The PGSA said it had already taken enforcement actions against at least 7 of the company's vessels, without specifying what those actions were.
Iran targets the owner with the most violations
The PGSA said Sinokor's vessels committed the highest number of crossing violations over the past 3 months. Iran established the PGSA earlier this year as a point of contact for transits through Hormuz, and it has since published a list of vessels it says broke its rules for crossing the waterway.
A date is set as well. According to the PGSA: "legal action will be taken against all vessels of this company" as of November 1. It warned all cargo owners, stakeholders and insurance service providers. Sinokor did not immediately respond to a request for comment.
Sinokor's share of Hormuz crude
Sinokor is the world's largest owner of supertankers, and it has become a vital part of moving the world's crude oil by taking on the trade of getting barrels out of Hormuz. Its ships accounted for nearly 40% of all the crude oil that flowed out of the strait last month, more than the next three biggest players combined, according to data from intelligence firms and maritime databases.
Since the Iran war began, there has been a tussle for control of the strait. Hormuz was largely shut right after the conflict, but oil flows through it have increased persistently since, and most trackers now see total shipments from the Middle East around pre-war levels.
Source: Rigzone (Bloomberg)
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