Iran’s state shipping company is moving the oil tanker ‘NESA’, which has been sitting unused for a very long time, toward Kharg Island.
The tanker will be used to store oil rather than transport it. Iran is struggling to export its oil, forcing it to use old tankers as
Assessment
Iran is pulling a long idle tanker toward Kharg Island to use it as floating storage, a sign that export channels are clogged. When a major oil producer mothballs a vessel for storage instead of shipping, it usually means buyers are scarce or sanctions are biting. The move points to mounting pressure on Iran's ability to move crude to market.