Archive · 7 Aug 2025
Sanctioned Iranian Tanker Sold for Scrap with Secret Terms
Imagine a ship that wasn't allowed to trade because of sanctions.
It was old and needed to be broken down for scrap.
The company selling the ship made a special deal: they'd get paid much later than usual.
This is unusual.
The company selling the ship used a secret name, and they didn't provide their bank details.
All of this made it harder to figure out who really owned the ship and why the deal was done.
It's a sign that it's getting harder to keep these types of ships operating and that people are trying to hide the money involved.
A US-sanctioned Iranian tanker, the Jasmine, was sold for scrap in India.
The sale involved unusual payment terms, including a 180-day payment period.
The seller, Thousand Miles Shipmanagement Corp., is a shell company with no online presence.
The payment was in UAE dirhams and lacked bank account details, making it difficult to trace.
The deal structure suggests an effort to shield the owner and expedite the sale.
- Who
- Thousand Miles Shipmanagement Corp. (seller) and Shantamani Enterprise LLP (buyer).
- What
- Sale of a sanctioned Iranian tanker, the Jasmine, for scrap.
- When
- The sale was documented on May 20.
- Where
- Alang, India, a ship-breaking center.
- Why
- To dispose of a sanctioned vessel and possibly shield the owner.
Motives of the Parties
Motives of the Parties
Sale Urgency vs. Cost
Motives of the Parties
Seller wants to quickly dispose of the ship and avoid scrutiny.
Motives of the Parties
Buyer wants to get a good deal, capitalizing on the distressed sale.
- Vessel Name
- Jasmine (formerly Contract II)
- Sanctioned
- 2019
- Buyer
- Shantamani Enterprise LLP
- Seller
- Thousand Miles Shipmanagement Corp.
- Payment Terms
- 180-day payment period
- Payment Currency
- UAE Dirhams
- Sale Price
- 14.04 million UAE dirhams ($3.82 million)