Belgium’s Euronav, Bermuda’s DHT holdings, and Frontline Despite said that 70 supertankers are managing the trade of an estimated 400 million barrels annually. Buyers of Iranian and Venezuelan oil will only opt for alternative supply sources if sanctions are properly enforced, the Financial Times reported. Together, the three tanker companies have pressed the UN shipping regulator, also known as the International Maritime Organization, to take strict measures with countries receiving the sanctioned oil. When combined, the tanker companies account for 11 percent of the global fleet, which, when combined, account for an estimated $1 billion in global oil trade each year. This undermines the business of these tanker companies, which account for almost half of the world’s global fleet. . . .
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