Iran reactivated the 30‑year‑old M/T Nasha as floating storage to relieve Kharg Island, which processes about 90% of its energy exports, as onshore capacity nears saturation. Kharg Island currently holds roughly 13 million barrels of spare onshore storage, with net inflows of 1.0‑1.1 million barrels per day, putting saturation in late April to early May if flows continue. The reactivation adds about 2 million barrels of floating capacity, a modest increase described by analysts as "not much". JP Morgan estimates 20‑26 days of total capacity remaining before shutdowns become necessary, a scenario that could cause permanent well damage. The vessel, a 30‑year‑old VLCC, had been anchored empty for years and is now spending 4 days on a trip that should take 1.5‑2 days. Spare onshore storage: 13 million barrels Net inflows: 1.0‑1.1 million barrels per day Floating capacity added: 2 million barrels Days to saturation: 12‑13 days Days before shutdown risk: 20‑26 days Daily export revenue loss: $430 million Analysts said the 2 million barrel addition was "not much", underscoring the limited relief, while the bank’s assessment that 20‑26 days remain before shutdowns highlights the urgency. The vessel’s extended trip reflects logistical challenges that could delay additional storage deployment. With storage nearing capacity, Iran may need to divert oil to the Jask terminal or increase flaring to avoid shutdowns that could cause irreversible well damage. The 430 million‑dollar daily revenue loss underscores the economic stakes, making timely storage solutions critical for sustaining production.