In overall terms, the oil embargo against Iran, which came into operation on Sunday, has not resulted in significant changes for the tanker companies which previously worked with Iran, nor the companies that bought Iranian bunkers in the Persian Gulf, says chief analyst with Bimco, Peter Sand.
During the last six months, all the industry actors have known that the embargo would take effect on July 1 and have therefore had time to prepare for the new situation and find new suppliers in the region.
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