Tianbao

"European trader Vitol and China's Tianbao have both chartered tankers to lift fuel oil from Iran, the first such fixtures seen in nearly a month, traders and shipbrokers said Tuesday.  Vitol has chartered Olympic Spirit II to lift 80,000 metric tons of fuel oil from Bandar Mahshahr on March 27, while Tianbao has chartered Alberta to take 80,000 tons of fuel oil from Bandar Mahshahr April 10, in what is the first fixture for April loading reported by shipbrokers, they said.  Tianbao is a unit of Chinese state-run trader Zhuhai Zhenrong, which was placed under sanctions by the U.S. in January for allegedly selling gasoline to Tehran." (Wall Street Journal, "Vitol, Tianbao Plan To Lift Iran Fuel-Oil- Traders, Brokers" 3/27/12) (http://online.wsj.com/article/BT-CO-20120327-702172.html)

Tianbao is a unit of Chinese state-run trader Zhuhai Zhenrong.