Iran war: A US-sanctioned tanker carrying Iranian crude, Ping Shun, has changed course to China after earlier signaling India as its destination, where it would have marked the first such import in nearly seven years. India has not bought Iranian oil since 2019 due to US sanctions, and despite a...
economictimes.indiatimes.com
Tanker Carrying Iranian Crude Shifts Course from India to China
By Bloomberg News
April 3, 2026 at 12:36 PM GMT+8
A US-sanctioned vessel carrying Iranian crude oil has shifted course to China from its previously signaled destination of India, where it would have been the first such shipment in nearly seven years.
The Ping Shun, an Aframax built in 2002 and sanctioned by the US in 2025, is currently signaling Dongying in China, according to Kpler, a ship-tracking firm. Earlier this week the ship had
indicated it would arrive at Vadinar on India’s west coast, but it has since taken a sharp turn to the south. Such destination signals are not final and may change at any time.
India hasn’t purchased Iranian crude since May 2019, when it stopped importing barrels from the country due to US sanctions. President Donald Trump has temporarily waived penalties for Iranian cargoes already at sea, but issues around payment, shipping and insurance have
complicated potential transactions.
Tanker with 600,000 barrels of Iranian crude shifts course from India to China midway
The shipment earlier bound for Gujarat’s Vadinar has changed course amid payment concerns; could still reach India if issues are resolved, according to Kpler.
03 April, 2026 11:05 am IST
Change in destination for Ping Shun is linked to payment terms. | Photo: Sumit Ritolia, Kpler
Follow Us :
New Delhi: A shipment of about 600,000 barrels of Iranian crude that was expected to arrive at Gujarat’s Vadinar port on 4 April aboard the vessel Ping Shun has dropped India as its declared destination, and is now signalling China, according to a market expert.
“An Iranian crude vessel “PING SHUN” that had been en route to Vadinar, India, over the past three days has dropped India as its declared destination near arrival, and is now signalling China,” Sumit Ritolia, Manager for modelling refinery and oil markets at Kpler, a global trade data intelligence firm told ThePrint Friday.
Ritolia, citing market sources, said the change in destination is linked to a shift in payment terms, with sellers now demanding upfront payments instead of offering a 30–60 day credit window.
“The shift appears to be payment-related, with sellers tightening terms, moving away from the earlier 30–60 day credit window toward upfront or near-term settlement,” Ritolia said.
He added, “While such mid-voyage destination changes are not unprecedented with Iranian crudes, they highlight the increasing sensitivity of trade flows to financial terms and counterparty risk.”
It remains unclear which Indian refinery procured the cargo, as multiple refiners, including Indian Oil Corporation, Nayara Energy and Bharat Petroleum, source crude through Vadinar.
However, Ritolia indicated that the cargo could still be diverted back to India if payment issues are resolved.
“If the payment issues are resolved, the cargo could still make its way to an Indian refinery,” Ritolia said.
He added, “However, the episode underscores how commercial terms are becoming as critical as logistics in determining Iranian crude flows to other countries apart from China.”
If the vessel ultimately docks in India, it would mark the first arrival of Iranian crude in the country since 2019.
www.cnbc.com
timesofindia.indiatimes.com
theprint.in
oilprice.com
