State oil marketer Somo issued a tender on 2 August to sell 268,131 tons (1.79mn barrels) of straight-run high-sulfur fuel oil (SRHSFO) stored on board the US-sanctioned floater Hellstugutinden after securing a waiver from the US’ Office of Foreign Assets Control (Ofac) allowing the sale. The waiver was issued on 9 February, shortly before the start of the Middle East conflict that has restricted exports from Iraq’s Basra terminals through the Strait of Hormuz.
The cargoes are to be lifted Ex-Floater in one or two lots in the Khor al-Zubair lightering area, with bids closing on 11 August. The Hellstugutinden serves as one of several floaters that function as vessels for ship-to-ship (STS) transfers and subsequent exports. (CONTINUED - 712 WORDS)
