Iran National Tanker Company to Resume Crude Shipment

Sanctions Against Insuring Tankers Suspended By Geneva Agreement

National Iranian Tanker Co. (NITC) is to resume shipping oil to as sanctions were eased as part of November’s Geneva’s deal between Iran and the world’s major powers. The sanctions against insuring the company’s tankers were suspended on 20 January, the start date for implementation of the Joint Plan of Action.

NITC Managing Director Ali Akbar Safaei told the country’s official news agency IRNA that his tankers will soon ship oil to China, India, Japan, South Korea, Turkey and Taiwan – Iran’s major oil customers.

Crude export volumes to the Asian countries covered under the agreement won’t change, Safaei said.

File photo: Iran’s oil export terminal at Kharq Island. (Getty Images) 

Iran's added crude oil tankers from Chinese shipyards

File photo, recent NITC addition: Sunrise (formerly Chun He 120) - IMO 9615092  [shipspotting.com] 

According to the World Tribune (8/9/13):

Iran has taken delivery of new oil supertankers. The National Iranian Tanker Co. has acquired four new supertankers in mid-2013 as part of efforts to maintain the nation’s crude oil export industry.

The supertankers were said to have a capacity of two million barrels each. Iran’s state-owned Press TV said China plans to complete the delivery of the vessels by 2014.

Previously, according to Reuters (2/5/13):

Iran has taken delivery of several new tankers from Chinese shipyards, giving it greater flexibility in maintaining oil exports in the face of Western sanctions.

Since the start of 2013, two supertankers have joined Iran’s trading fleet, with another three new vessels having arrived in recent months, according to industry sources and shipping data. Each vessel has a maximum capacity of 2 million barrels of oil.

With the latest acquisitions, NITC’s supertanker fleet has been boosted to 30 vessels with a maximum carrying capacity of 60 million barrels. It has an additional 14 small crude oil tankers.

The Atlantis and Infinity, the two vessels that joined NITC’s fleet in recent weeks, are part of a $1.2 billion contract with two Chinese shipyards that was ordered in 2009 for 12 new supertankers. The Carnation, Rainbow and Skyline reached NITC last year.

Below is a partial rundown on Iran's recent tanker additions [source: Martime-Connector.com]: 

IMO 9569205 - Carnation - Flag Tanzania (8/2: Persian Gulf 26.96538 / 56.419418, 0.4 kn / 311°)

IMO 9569619 - Rainbow - Flag Tanzania (8/6: Malacca Strait 3.72438 / 99.984009, 14.6 kn / 311°)

IMO 9569669 - Skyline - Flag Tanzania ( NA )

IMO 9569695 - Dew Drop - Flag Tanzania (8/13: N. China coast 38.874668 / 122.0592, 0.2 kn / 319°)

IMO 9569700 - Deniz - Flag Tanzania (8/12: Persian Gulf 26.78751 / 52.76046, 12.5 kn / 300°)

IMO 9569712 - Dusk - Flag Tanzania (7/24: near Singapore 1.230638 / 103.461, 12 kn / 268°)

IMO 9569621 - Atlantis - Flag Tanzania (7/27: near S. India coast 10.23946 / 75.302139, 13.7 kn / 354°)

IMO 9569671 - Infinity - Flag Tanzania (8/13: C. China coast 29.955669 / 121.8143, 0 kn / 17°)

IMO 9569683 - Demos - Flag Tanzania (8/12: Persian Gulf 26.193119 / 54.494492, 13.6 kn / 102°)

IMO 9615092 - Sunrise - Flag Tanzania (7/15: Persian Gulf 26.17207 / 55.367729, 15.1 kn / 58°)

EU Publishes Details of New Iran Sanctions

The EU has published the implementing regulations covering its tough new sanctions against Iran. The sanctions impose a near-total embargo on financial transactions with Iran, covering all banks, including the Central Bank of Iran.

The sanctions also cover the entire oil and gas industry. The targets include the National Iranian Oil Company (NIOC) and its 20 subsidies, the Naftiran oil trading company and all its subsidies, the National Iranian Gas Company, the National Iranian Oil Refining and Distribution Company, and the National Iranian Tanker Company.

The Minister of Energy Majid Namjoo was added to the EU list of individuals subject to restrictive measures. The new sanctions also cover the Ministries of Petroleum and Energy. 

To read the text of EU implementing regulations, please click here.

Lloyd’s Register Ends Ties with Iran

Iran state-owned Press TV reported that Lloyd’s Register, the leading maritime risk management organization, has stopped classification and certification of nearly 60 tankers and containerships owned by the National Iranian Tanker Company (NITC) and the Islamic Republic of Iran Shipping Lines (IRISL). Lloyd’s Register began its operations in Iran in 1936.

A ship is known as being in class if it meets all the minimum requirements of Lloyd's Rules, and such a status is a needed for a ship to get insurance.

The Lloyd’s move follows the decision late last year by DNV, another major assessment firm, the to end its ties with Iran. There are still other smaller firms that could assess and certify Iranian tanker vessels.