No, it’s not an early entry for bad Christmas crackerjokes – it’s the names which have been attributed to the latest NITCnewbuilding as Iran looks to keep its crude exports flowing in the face ofstiff international sanctions.

The 317,554-dwt VLCC Carnation has been renamed twice sinceSeptember when it was rolled out of ShanghaiWaigaoqiao.

EA Gibson flagged up the vessel’sever-changing identity in its latest weekly report, which shows October’sIranian crude production jumped for the first time in seven months.

Iranian exports were also up,hitting 1.3 million barrels per day in October to beat the 1.0 million barrelsper day recorded in the previous two months.

“Clearly these figures show thatIran is managing to sell crude and perhaps is becoming more ‘inventive’ in theirapproach to exporting cargoes,” Gibson said.

“Iranian owned tonnagecontinues to defy every obstacle placed in its path and supply the thirst ofthe Far Eastern nations and bring in much needed dollars to support the regime.”

Gibson notes that while sixNITC VLs have been static off the Iranian coast the rest of the fleet is beingrenamed and reflagged.

“It appears to be business asusual and we are seeing regular movements going east,” the broker said.

“To emphasise this point Irantook delivery of a newbuild VLCC in September, which has already been renamedtwice and delivered its first cargo to South Korea at the end of October.”

Iran was said to be conductingship-to ship transfers off Malaysia in a bid to work around sanctions, withthose involved explaining the action did not breach any laws.

“History tells us sanctionbusting is not a new pastime,” Gibson said.

“As well as NITC tonnage, thereare owners willing to lift Iranian cargoes and explore any legal loopholes inorder to take advantage of the current stand-off.

“In the end it boils down toIran needing the export Income.”