U.S. Sanctions Halt Scrapping of Tanker Linked to Iranian Trade
The U.S. State Department has placed the tanker Maymei and its managers, Ever Shining Limited, on a sanctions list as part of broader measures against Iran. This action has disrupted the scrapping process of the tanker, which was in the process of being sold for scrap in Bangladesh. The tanker, built in 1997 and registered in Palau, was associated with the Iranian petrochemical trade. It had departed from Ningbo, China, and arrived in Chattogram, Bangladesh, where it was anchored and awaiting scrapping. The sanctions have created legal and commercial uncertainties for the cash buyers and scrappers involved, as they are now barred from completing the transaction. The principal owner of the ship has agreed to take it back, and this process is expected to begin soon. 
