Take it from someone else.... Crude oil

Iran Confirms Supertanker for 90-Day Crude Storage TEHRAN (FNA)- Iran has booked a supertanker to store up to 270,000 tons of crude oil for up to 90 days, adding to the more than 28 million barrels of oil floating outside its main export terminal, shipbrokers said on Tuesday.

Shipping sources said that National Iranian Tanker Company (NITC), had booked the Very Large Crude Carrier (VLCC) Universal Prime for delivery into the Middle East during June 3-6.

"They are taking the vessel for 90 days, and they are still floating their inquiry in the market, requesting more tonnage for the purpose of storage," a shipping source familiar with NITC's tonnage inquiry said.

Iran already has 13 VLCCs being used for floating storages, shipping sources said last week.

Shipbrokers said that NITC, a subsidiary of state-owned oil firm National Iranian Oil Company (NIOC), has booked three suezmax tankers, the Eastway, Headway and Gateway, for delivery on May 15.

Shipbrokers in Asia said the double-sided, single-hulled crude oil tankers, owned and operated by Tanker Pacific that has its corporate headquarters in Singapore, were booked for about $44,000 each.

The use of tankers for crude oil storage also comes at a time when Iran's Bandar Abbas refinery starts maintenance on a 110,000 barrels per day (bpd) crude distillation unit (CDU), scheduled to last for about 30 days.

The CDU at the 225,000-bpd Bandar Abbas refinery is the second crude unit to go on maintenance at the complex this year, as Iran looks to boost the plant's capacity to 320,000 bpd.