Iran's main oil shipper NITC has delayed the expansion of its oil tanker fleet, industry sources said, as tough Western sanctions on the Opec member's crude exports and a weak freight market hurt the company's ability to turn a profit.
Iran's biggest crude oil tanker operator NITC will need to review whether to send its vessels to Libya if it receives a new order, a senior NITC official has said.
The move threatens to further reduce sailings from Africa's third-l
Iran's biggest crude oil tanker operator NITC said its ship insurers had declined to renew policy cover for the coming year due to the impact of tightening sanctions in the European Union.
Western nations suspect Iran is seeking to dev
Iran's biggest crude oil tanker operator, NITC, is storing Iranian crude on two very large crude carriers (VLCCs) and expects that number to fall as the winter demand for oil rises, its chairman said.
"At the moment only two ships are now
Private Iranian tanker operator NITC is storing crude oil on two tankers at sea which will discharge in the coming days, said NITC chairman Mohammad Souri.
"If we are talking about the number of NITC tankers at the moment, it is only two f
The National Iranian Tanker Company (NITC) is expected to receive the six liquefied natural gas (LNG) carriers it ordered from China between 2014 and 2015, a company official said on Tuesday.
The tankers will arrive in phases, Sh. Sasanian
A British proposal to target Iran's national shipping lines under a draft UN sanctions resolution could temporarily curb Tehran's ability to export oil to world markets, maritime sources said.
The confidential draft, obtained by Reuter