Left Menu
Development News Edition

REFILE-Taiwan's CPC sees little impact after tanker attacked in Middle East

Reuters | Updated: 14-06-2019 16:04 IST | Created: 14-06-2019 16:03 IST
REFILE-Taiwan's CPC sees little impact after tanker attacked in Middle East
Image Credit: Flickr

Taiwan's state oil refiner CPC Corp said on Friday it was still assessing the damage to a tanker it had charted to carry fuel from the Middle East that was suspected to have been attacked, while the company expected little impact to its supplies. Tanker Front Altair was one of the two ships that was attacked in the Gulf of Oman. The United States blamed Iran for attacks that drove up oil prices and raised concerns about a new U.S.-Iranian confrontation.

Tehran bluntly denied the allegations that it was involved. Front Altair was carrying 75,000 tonnes of naphtha, a petrochemical feedstock, when it was suspected of being hit by a torpedo, CPC said.

CPC's vice president, Chiu Chia-shou, told reporters in Taipei on Friday that the company was still accessing the damage to the tanker. The vessel was still afloat in the Gulf of Oman, according to shipping data on Refinitiv Eikon. Chiu said the incident would have little impact to oil products and petrochemical supplies for both Taiwan and CPC thanks to abundant inventories.

The ship was chartered by shipping company Ocean Energy on behalf of CPC, while the cargo was sold by Abu Dhabi National Oil Company (ADNOC), CPC said. The cargo is worth about $34 million, Chiu said, adding that the shipment was fully insured and the company expected a loss of roughly NT$8 million ($250,000). The ship was scheduled to arrive in Taiwan in July. ($1 = 31.4990 Taiwan dollars)


TRENDING

OPINION / BLOG / INTERVIEW

Why COVID-19 is unstoppable in USA despite it being ranked at the top of GHS Index?

Several worst-hit countries such as Italy, France, Spain, the UK, Canada, and Russia have peaked COVID-19 cases in April. Almost all of them have gradually flattened the curve. However, the USA is setting new daily records of infections tha...

COVID-19 seems cooking biggest ever global scam

The increasing number of corruption cases on COVID-19 funds from throughout the world and involvement of high profile persons indicate that the countries cant ignore corruption in their pandemic response programs. This has generated the nee...

Health Management Information Systems lack holistic, integrated, and pandemic resilient character

Being a part of the United Nations system, the World Health Organization WHO deserves its share of rebuke for its alleged failure issue COVID-19 health emergency alerts on appropriate time. However, the pandemic has also exposed loopholes i...

Pride in the time of coronavirus: a welcome move online?

This year is different in many ways not least as celebrations are also taking place against the dramatic backdrop of a global health crisis and a resurgence in grassroots activism following the death of George Floyd in Minneapolis. ...

Videos

Latest News

Fire breaks out at petrochemical facility in southwest Iran

A fire broke out at a facility belonging to the Shahid Tondgooyan Petrochemical Company in southwest Iran but was quickly contained, the official IRNA news agency reported on Sunday, citing a local official. The fire was caused by an oil le...

It's Trump's call on what the GOP convention will look like

After months of insisting that the Republican National Convention go off as scheduled despite the pandemic, President Donald Trump is slowly coming to accept that the late August event will not be the four-night infomercial for his reelecti...

J-K: 2 militants arrested for hurling grenades on security forces

Two militants were arrested within hours of them hurling grenades on security forces in Jammu and Kashmirs Pulwama district on Sunday, police said. The grenades, however, did not explode, a police spokesman said.Today about 1610 hours, terr...

One killed, seven injured in road accident

A man was killed and seven others were seriously injured after a jeep in which they were travelling rammed into a truck on the Outer Ring Road in Nagpur on Sunday, police said. The incident took place around 6.30 am, they said.The jeep, car...

Give Feedback