Dalian Huachang Shipping

Risk Level:
unknown %

Status:
Medium Alert – Entities sanctioned in the past for Terror or Illicit activities / WMD related / Human rights violations.

Info:
Dalian Huachang Shipping is being owned or controlled by the COSCO Shipping Tanker (Dalian);

On September 25, 2019, pursuant to Executive Order 13846, OFAC designated COSCO Shipping Tanker (Dalian) (COSCO Dalian) and COSCO Shipping Tanker (Dalian) Seaman and Ship Management on the Specially Designated Nationals and Blocked Persons List (SDN List) for transporting Iranian crude oil to China. COSCO is China’s largest and one of the world’s largest shipping companies, with more than a thousand vessels under its ownership;

COSCO Shipping Tanker (Dalian) Co. has been charged with knowingly violating restrictions on handling and transacting Iranian petroleum;

On January 31, 2020, the Office of Foreign Assets Control (OFAC) of the US Department of the Treasury removed sanctions on COSCO Shipping Tanker (Dalian). The delisting may have resulted from US-Chinese government-to-government discussions around “Phase 1” of the US-China trade deal, signed on January 15, 2020. Another COSCO entity—COSCO Shipping Tanker (Dalian) Seaman and Ship Management—remains designated, and US persons remain prohibited from transacting with it and with its direct or indirect subsidiaries;

Profits from oil sales support the IRGC’s full range of nefarious activities, including the proliferation of weapons of mass destruction and their means of delivery, support for terrorism, and a variety of human rights abuses, at home and abroad;

According to the U.S. Treasury Department – Individuals and entities engaged in certain transactions involving petroleum or petroleum products from Iran or certain Iran-related persons on the SDN List should be aware that engaging in such conduct may result in designation or other sanctions under U.S. sanctions authorities unless an exception applies. Those who knowingly engage in significant transactions for the purchase, acquisition, sale, transport, or marketing of petroleum or petroleum products from Iran — or knowingly provide significant support to an Iranian person on OFAC’s List of Specially Designated Nationals and Blocked Persons (SDN List), such as the National Iranian Oil Company (NIOC), the National Iranian Tanker Company (NITC), and the Islamic Republic of Iran Shipping Lines (IRISL) — are at serious risk of being targeted by the United States for sanctions, regardless of the location or nationality of those engaging in such activities. Further, persons providing bunkering services to vessels transporting petroleum or petroleum products from Iran risk being subject to sanctions unless an applicable waiver or exception applies.The United States continues to take strong action to deny the Government of Iran funds derived from the illicit exportation of petroleum or petroleum products from Iran;

Industry:
Shipping Industry

Also Known As:
Dalian Huachang Shipping

Country:
China

Reason for the color:
» Seized vessel shows wider ties to illicit Iranian oil trade networks;
» OFAC Advisory to the Maritime Petroleum Shipping Community – September 4, 2019;


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IFMAT Color Guide

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We sort entities who are connected with terrorist activities, in two sections, first by risk and second by geolocation.
GeoLocation divisions are divided into two fields, Black List and Gray List.
BlackList is a list of all companies, organizations and figures who originate from Iran.
GrayList is a list of all companies, organizations and figures out of Iranian borders, and doing business with Iran.
We identify risk of entities by COLOR selection, each color marks the risk level of the entity.(by declining order)
 
TOP ALERT
Designated / Sanctioned / Illicit entities
 
HIGH ALERT
Entities affiliated with Designated / Sanctioned / Illicit entities.
 
MEDIUM ALERT
Entities sanctioned in the past for Terror or Illicit activities / WMD related / Human rights violations.
 
RISK ALERT
Entities in a problematic sector - Sector controlled by the Top Alert entities.
 
GENERAL ALERT
Legitimate entities - we cannot determine whether an entity is completely green, and that is due to the facts that the Iranian economy is not transparent enough for us. Be sure.