Two UK, Swedish firms shortlisted to insure Iranian tankers

TEHRAN, Oct. 11 (Shana) – Director of Commerce in the National Iranian Tanker Company (NITC) said that two major British and Swedish insurance companies are picked out from among an increasing number of foreign applicants to provide coverage to the Iranian vessels.

“Following the international political opening, numerous number of qualified international firms have approached NITC negotiating terms of insurance policies,” Nasrollah Sardashti told Shana.

They are from among the companies that used to have vast cooperation with NITC, he added.

Sardashti also said that there are negotiations with two major companies to resume their ties and to provide fuel to Iranian vessels.
Earlier, the company’s CEO said NITC is set to sail to global markets again as conditions are better prepared for Iran’s access to the new transactions following the nuclear agreement.

“Several preparations are made for returning to the international and European markets. Relying on our standards, our fleet can enter new markets and achieve the planned objectives,” Ali Akbar Safaei said.
NITC transports Iranian crude to export markets and is also responsible for the distribution of oil products to Iranian ports and island ports in the Persian Gulf.

The company, which operates the largest tanker fleet in the Middle East, also acts as an independent entity in contracts with foreign concerns for crude oil transportation based on prevailing international freight rates.
NITC, in observance of IMO (International Maritime Organization) regulations, has a huge project for replacing tankers, including the construction and purchase of 25 tankers with the total capacity of 6 million tons.

In recent years, NITC has taken great steps towards accomplishing enhanced management systems, maritime safety and transport, the results of which have been achieving an array of awards obtained including ISO 9002, ISO 14001 (for management), PMS (for maintenance and repair system), STCW (for maritime supervision systems) and ISMC (for maritime safety management).

NITC shares have recently been offered to private sector.