Shipload Maritime Pte, a Singapore-based company, has been sanctioned by the US for its involvement in the Iranian oil trade, marking the first time a Singaporean entity has faced penalties for facilitating oil transfers at sea. The sanctions highlight the ongoing US efforts to disrupt Iran’s oil exports.
The US Department of State announced the sanctions on March 13th, stating that Shipload Maritime “knowingly engaged in a significant transaction for the transport of petroleum or petroleum products from Iran.” The specific incident involves a ship-to-ship transfer that occurred near Indonesia in December.
Ship-to-ship oil transfer at sea.
The Trump administration’s “maximum pressure” campaign aims to curtail Iran’s oil revenue, which the US alleges funds Tehran-backed militia groups. These sanctions have significantly impacted Iran’s oil exports, particularly to China, forcing traders to employ increasingly complex and risky methods to circumvent the restrictions.
The sanctions against Shipload Maritime stem from its use of the tug boat Malili to facilitate a ship-to-ship transfer between the Iranian-flagged tanker Sobar and the Star Forest on December 25th near Nipa, Indonesia. Shipload Maritime is the commercial manager and operator of the Malili.
Tugboat assisting a larger vessel.
In addition to Shipload Maritime, the US also sanctioned two Indonesian companies, PT Bintang Samudra Utama and PT Gianira Adhinusa Senatama, for their involvement in the Sobar-Star Forest transfer using related tug boats. Tug boats play a crucial role in ship-to-ship transfers, providing maneuverability and stability for larger vessels, especially in congested areas or during complex operations. The waters off eastern Malaysia are known as a major hub for Iranian oil transfers.
Shipload Maritime, based in Singapore’s Golden Mile Tower, reportedly provides ship-to-ship transfer support to major oil companies in Singapore, Japan, and surrounding regions. While this is the first Singaporean company penalized for assisting with Iranian oil transfers at sea, it’s not the first instance of a Singapore-based entity facing US sanctions related to Iranian petroleum trade. In 2023, Asia Fuel Pte and Unicious Energy Pte were sanctioned for facilitating Iran-related shipments and payments. This recent action against Shipload Maritime underscores the continued US focus on enforcing sanctions related to Iranian oil exports and highlights the risks associated with engaging in such activities. The sanctions may further complicate global oil markets and increase the challenges faced by companies operating in the maritime sector.
