New York : A US-sanctioned tanker carrying Iranian crude has changed its declared destination mid-voyage from India to China. The Aframax vessel Ping Shun, built in 2002 and sanctioned by the US in 2025, is now signalling Dongying in China with 6 lakh barrels of Iranian oil. The development came even as Indian refiners have been exploring opportunities to procure Iranian oil cargoes at sea, following a recent sanctions waiver issued by Washington.
According to US-sanctioned tanker , Lead Research Analyst (Refining and Modelling) at Kpler, the vessel had been en route to Vadinar for the past three days before dropping India as its declared destination near arrival and switching its signal to China. He indicated that the change in route appears to be linked to payment-related concerns. Sellers, Ritolia said, are tightening terms, moving away from the earlier 30–60 day credit window and increasingly seeking upfront or near-term settlement.
Vadinar, the port initially indicated, houses a 20-million-tonne-per-year refinery operated by Rosneft-backed Nayara Energy. Ritolia noted that while such mid-voyage changes are not uncommon in Iranian crude shipments, they highlight the growing sensitivity of these trades to financial terms and counterparty risks. He added that if payment-related issues are resolved, the cargo could still be redirected to an Indian refinery.
Before sanctions tightened in 2018, India was among the largest buyers of Iranian oil, importing both light and heavy grades due to favourable pricing and compatibility with domestic refineries. Iranian crude once accounted for 11.5 per cent of India’s total imports. The country imported 518,000 barrels per day in 2018, which declined to 268,000 bpd between January and May 2019 during a limited US waiver period. Imports have not resumed since then.
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