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A US-sanctioned tanker carrying Iranian crude oil has rerouted mid-voyage from its previously indicated destination of India - where it would have marked the first such shipment in nearly seven years - to China. The Aframax tanker Ping Shun, built in 2002 and sanctioned by the US in 2025, is now signalling Dongying in China as its destination instead of Vadinar in Gujarat, which it had indicated earlier this week, according to ship-tracking firm Kpler. There is no confirmation that the destination that the ship's Automatic Identification System (AIS) transponder - a tracking system mandated on most commercial vessels - is indicating is the final and it may not change at any time during the transit. "An Iranian crude vessel 'Ping Shun' that had been en route to Vadinar, India, over the past three days has dropped India as its declared destination near arrival and is now signalling China," said Sumit Ritolia, Lead Research Analyst, Refining and Modelling at commodity market analytic .

IDBI Capital released a Sector Update report for Commodities on 23 Mar, 2026.

Commodities

TREND | 02 Apr 2026

JioStar terminates agreements for IPL and WPL media rights in Bangladesh over "payment defaults"

Business Line

JioStar India Pvt. Ltd. has terminated its Bangladesh sub-licence agreements due to payment defaults by Excel Lead IT Solutions, the parent company of T-Sports

IDBI Capital released a Sector Update report for Commodities on 23 Mar, 2026.

Commodities

TREND | 01 Apr 2026

Copper futures: Approaching a barrier

Business Line

Risk-reward ratio is favourable for long positions

IDBI Capital released a Sector Update report for Commodities on 23 Mar, 2026.

Aluminium futures: Eyes a breakout

Business Line | 31 Mar 2026

Commodities

TREND | 31 Mar 2026

India's first Iranian oil cargo since 2019 headed to Gujarat coast

Business Standard

India's first Iranian crude oil cargo since 2019 may be headed towards a port in Gujarat, according to ship tracking data. Indian refiners have been looking to purchase a few cargoes of Iranian oil on water following the recent sanctions waiver by Washington. "The Indo-Iranian oil trade has flickered back to life. Following the US administration's decision to grant a 30-day window for Iranian oil "on the water" due to regional conflict, the vessel Ping Shun is now en route to Vadinar (in Gujarat) with 600,000 barrels of crude. This is the first such delivery since May 2019 and comes at a critical time for Indian refiners facing tightening inventories," said Sumit Ritolia, Lead Research Analyst, Refining and Modelling at commodity market analytic firm Kpler. While the identity of the buyer is unknown, Vadinar is home for 20 million tonnes a year oil refinery of Russian oil giant Rosneft-backed Naraya Energy. It also is the landing point for crude oil that goes to hinterland refinerie

IDBI Capital released a Sector Update report for Commodities on 23 Mar, 2026.

Commodities

TREND | 31 Mar 2026

War, gold, and diamonds: How geopolitics shapes jewellerysales | Trending Commodity Podcast | EP 08

Business Line

Tradition and aspiration continue to drive gold purchases in India. Shoppers are cautious, but they keep investing as prices rise steadily, saysParag Shah, CEO, KISNAdiamonds

IDBI Capital released a Sector Update report for Commodities on 23 Mar, 2026.