Grain importer GTC behind controversial Iranian order

Iran’s state grain importer, Governmental Trading Corp (GTC), is behind an order under negotiation for six geared and four gearless kamsarmaxes, say financial industry sources in China with insight into the transaction.

But the actual ownership of ordering entities is not in Iranian hands and the structure of the deal puts several layers between Iran and the yard.

Yangzijiang Shipbuilding Holdings is not commenting publicly but is said to be privately denying it has an Iranian customer.

TradeWinds