SERVICES

HK reserves right to assist Iranian oil shipment

Hong Kong - The government of Hong Kong has rejected a warning from the U.S. Department of State that it could be penalized if it does business with a specific tanker, the “Pacific Bravo”, which is believed to be under way for China

Hong Kong - The government of Hong Kong has rejected a warning from the U.S. Department of State that it could be penalized if it does business with a specific tanker, the “Pacific Bravo”, which is believed to be under way for China.

According to the “Bravo” ’s Equasis record, she is operated by Chinese state-owned giant COSCO Shipping, and her registered owner shares a working address with a COSCO entity in Dalian. The “Bravo” was purchased by a holding company, transferred to COSCO’s management, reflagged and renamed in January. A U.S. official told Reuters that the real owner of the “Bravo” is the Bank of Kunlun, itself a subsidiary of China National Petroleum Corp.’s banking division, CNPC Capital. State-owned Bank of Kunlun is believed to be the main financial institution for business transactions between China and Iran.

On Wednesday, a spokesperson for Hong Kong’s Commerce and Economic Development Bureau told Bloomberg that the city complies strictly with the UN Security Council sanctions on Iran.

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(Credit: MarineTraffic)

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