Statement in regards to M/T White Moon

The M/T White Moon was chartered by ENI on 30th April to collect cargo specified with bills of lading to be Basra light crude oil in a ship-to-ship transfer from another vessel, the VLCC M/T New Prosperity positioned off the coast of Iraq, and instructed to deliver it to the Milazzo refinery in Italy. As operators of the M/T White Moon, we independently carried out customary sanctions compliance checks on the owner of the previous vessel and its journey history. We also received express written assurance from ENI that its cargo was not from a sanctioned territory, including Iran, before the transfer took place. We were subsequently informed by ENI that the cargo did not conform to ENI's specifications and instructed to return the cargo to the M/T New Prosperity, as is normal practice for rejected cargo.