Middle East

NITC’s fleet revs up

Dubai: The tanker fleet of National Iranian Tanker Company (NITC) is gearing up for plenty of business, predominantly to Asian owners as sanctions on oil have been suspended.

“The obstacles to NITC’s services in carrying Iran crude oil to China, India, Turkey, Taiwan, Japan and South Korea according to the [determined export] ceiling have been removed based on Iran’s agreement with the P5+1,” Ali Akbar Safaei, the head of NITC, said on Sunday.

“Based on this [agreement], from now own, there will be no obstacles to insurance coverage, banking and other services related to international navigation for this company (NITC) with regards to crude oil delivery to the six destination countries (China, India, Turkey, Taiwan, Japan and South Korea) according to [the determined export] ceiling,” said Safaei.

He added that NITC expects a “quick return” to the international oil market beyond the six Asian nations.  [27/01/14]

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