Skip to content
Subscriber Only

Iran Oil Ship at Risk of Sinking as Buyer Seeks Other Supply

  • Ship Sanchi had 1m bbl South Pars condensate for Hanwha Total
  • Petchem co. buys 5 naphtha cargoes; vessel crew still missing
Bloomberg business news

Iranian Oil Tanker Collides With Ship in East China Sea

Updated on

Hanwha Total Petrochemical Co. bought alternative supply after a fire on board an Iranian oil tanker that was destined for the South Korean company. Crew members of the vessel were still missing following a collision in the East China Sea with another ship that’s left it in danger of sinking.

The Sanchi is still ablaze and may explode after colliding on Saturday with the bulk carrier CF Crystal about 160 nautical miles off the coast of Shanghai, Chinese state media reported, with images showing the ship shrouded in thick black smoke. China, South Korea and the U.S. sent vessels and planes to search for Sanchi’s missing crew -- 30 Iranians and two Bangladeshis, the Associated Press reported.