Honores Mutant Mores

News that the National Iranian Tanker Company is busy renaming and re-flagging its tanker fleet (recently most of their fleet was parked idle in  Kharg so the Ship Masters were instructed to switch off their GPS tracking systems) should raise two questions in your mind: (1) How fucked up (pardon my French) are we as a nation that we have to suffer the same incompetence, cost, and idiocy over and over again (who appointed us as the righteous defender of the 'rights' of independent nations to the detriment of our self interest?), but more importantly with this regime it should raise this very important question as well: (2) How much will they embezzle using this "opportunity"?

Unlike the cargo market the tanker market is much smaller, highly scrutinized (because of the environmental risk) and each vessel's history is well known. So what they are thinking this will achieve is beyond me except for (2) above.

Old Name New Name New Flag DWT
Davar Companion Tanzania 318,000
Haraz Freedom Tanzania 317,000
Hoda Precious Tuvalu 317,000
Hadi Pioneer Tuvalu 312,000
Hamoon Lena Tuvalu 300,000
Nesa Truth Tuvalu 300,000
Najm Motion Tuvalu 300,000
Nabi Brawny Tuvalu 300,000
Noah Elite Tuvalu 300,000
Sima Blossom Tuvalu 164,000
Susangrid Daisy Tanzania 158,000
Abadan Alpha Tuvalu 98,000
Astaneh Neptune Tuvalu 98,000

Sources: Reuters Freight Fundamentals Database and vesseltracker.com