Iranian Oil Tankers Leased to Foreign Firms

Iran has leased out dozens of its extra oil tankers to foreign companies since enforcement last year of the Joint Comprehensive Plan of Action (JCPOA) and termination of anti-Iran sanctions, an official said.

In an interview with Tasnim, managing director of the National Iranian Tanker Company (NITC) said 30 oil tankers belonging to the company have been leased to foreign companies since the coming into force of the JCPOA in January 2016.

More ships will have been leased to foreigners until end of the current Iranian year (March 20), Sirous Kianersi added, noting that they are excess vessels available after meeting the domestic demands.

“Our first priority is to meet the country’s demand for transporting exported crude,” Kianersi added.

He also noted that implementation of the JCPOA, the nuclear agreement between Iran and the Group 5+1 (Russia, China, the US, Britain, France and Germany) and removal of the anti-Iran sanctions have resolved the NITC’s transportation and insurance problems in international trade.

Many foreign companies have shown enthusiasm for resuming cooperation with Iran in the post-JCPOA era, the official explained, saying trade ties with the renowned enterprises, including Europeans, are growing.

In mid-2016, the Iranian oil tankers returned to European ports after a hiatus of five years.

Known as one of the largest fleets of oil tankers in the world, the NITC seeks to reclaim its previous position in the European market.

(Source: Tasnim, under Creative Commons licence)

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