Tanker Pacific is the largest privately owned tanking fleet globally.Bloomberg: Idan Ofer
/ref> Founded in 1989, it is headquartered in

Singapore Singapore (), officially the Republic of Singapore, is a sovereign island country and city-state in maritime Southeast Asia. It lies about one degree of latitude () north of the equator, off the southern tip of the Malay Peninsula, borde ...

and owned by

London London is the capital and largest city of England and the United Kingdom, with a population of just under 9 million. It stands on the River Thames in south-east England at the head of a estuary down to the North Sea, and has been a majo ...

-based

Israel Israel (; he, יִשְׂרָאֵל, ; ar, إِسْرَائِيل, ), officially the State of Israel ( he, מְדִינַת יִשְׂרָאֵל, label=none, translit=Medīnat Yīsrāʾēl; ), is a country in Western Asia. It is situated ...

i businessman

Idan Ofer Idan Ofer ( he, עידן עופר; born 2 October 1955) is an Israeli billionaire businessman and philanthropist, with interests in shipping, energy, mining and sports. He is the founder of Eastern Pacific Shipping, and the principal of the Quant ...

. The company was under US sanctions for docking at

Iran Iran, officially the Islamic Republic of Iran, and also called Persia, is a country located in Western Asia. It is bordered by Iraq and Turkey to the west, by Azerbaijan and Armenia to the northwest, by the Caspian Sea and Turkmeni ...

ian ports from 2011 to 2013.

History

Tanker Pacific was founded in 1989 by Israeli billionaire heir

.Bloomberg: Tanker Pacific
/ref> Its headquarters are located in the

Millenia Tower Millenia Tower is a , 41- storey skyscraper at Marina Centre in Singapore next to Promenade MRT station. The building is located in Millenia Singapore, and is the centrepiece of the development, less than 20 minutes from Singapore Changi Airport ...

in Singapore. It operates twenty-nine

tankers Tanker may refer to: Transportation * Tanker, a tank crewman (US) * Tanker (ship), a ship designed to carry bulk liquids ** Chemical tanker, a type of tanker designed to transport chemicals in bulk ** Oil tanker, also known as a petroleum tank ...

, including

Very Large Crude Carrier An oil tanker, also known as a petroleum tanker, is a ship designed for the bulk transport of oil or its products. There are two basic types of oil tankers: crude tankers and product tankers. Crude tankers move large quantities of unrefined cru ...

Aframax An Aframax vessel is an oil tanker with a deadweight between 80,000 and 120,000 metric tonnes. The term is based on the Average Freight Rate Assessment (AFRA), a tanker rate system created in 1954 by Shell Oil to standardize shipping contract t ...

es, and Medium Range vessels.Tanker Pacific: Welcome to Tanker Pacific
It employs a workforce of 3,000 on board their tankers and 106 in their offices. Its Chairman and Chief Executive Officer is Alastair McGregor. In May 2011, US Secretary of State

Hillary Clinton Hillary Diane Rodham Clinton ( Rodham; born October 26, 1947) is an American politician, diplomat, and former lawyer who served as the 67th United States Secretary of State for President Barack Obama from 2009 to 2013, as a United States sen ...

imposed sanctions on the company, accusing them of violating

U.S. sanctions against Iran The United States has since 1979 applied various economic, trade, scientific and military sanctions against Iran. United States economic sanctions are administered by the Office of Foreign Assets Control (OFAC), an agency of the United States De ...

by docking at Iranian ports.Seven Companies Sanctioned Under the Amended Iran Sanctions Act
United States Department of State, May 24, 2011 ''

Haaretz ''Haaretz'' ( , originally ''Ḥadshot Haaretz'' – , ) is an Israeli newspaper. It was founded in 1918, making it the longest running newspaper currently in print in Israel, and is now published in both Hebrew and English in the Berliner f ...

'', a left-wing Israeli newspaper, revealed that thirteen vessels had docked at Iranian ports over the past decade.Isabel Kershner
Sammy Ofer, Magnate and Israeli Power Broker, Dies at 89
''The New York Times'', June 4, 2011 In response, they denied flouting any laws, explaining that they did dock at Iranian ports on their way to other destinations to reach international buyers, but did not sell anything to Iranian buyers.Tanker Pacific: Ships docked in Iran were legal

Reuters Reuters ( ) is a news agency owned by Thomson Reuters Corporation. It employs around 2,500 journalists and 600 photojournalists in about 200 locations worldwide. Reuters is one of the largest news agencies in the world. The agency was estab ...

, May 29, 2011Ora Coren
Ofers deny U.S. charge of selling tanker to Iran
''Haaretz'', May 25, 2011 The sanctions meant that they were "barred from securing financing from the Export-Import Bank of the United States, from obtaining loans over $10 million from U.S. financial institutions, and from receiving U.S. export licenses." However, the sanctions were removed in April 2013.Iran Sanctions Act Removal
U.S. Department of the Treasury, 4/15/2013

References

Shipping companies of Singapore Transport companies established in 1989 1989 establishments in Singapore Sanctions against Iran Ofer family {{Singapore-company-stub