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


Reuters
Updated: 14-06-2019 16:04 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)

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

COUNTRY : Taiwan

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