Iran in final talks over tanker insurance: Deputy minister

TEHRAN, March 14 (Shana) – Deputy Petroleum Minister for International Affairs and Commerce Amir-Hossein Zamani-Nia said the National Iranian Tanker Company (NITC) is in final negotiations with international insurers.

“The company’s representatives took part in a meeting with 13 main tanker insurance groups in Dubai and carried out the final talks in order to reach the ultimate result,” he said according to an NITC media release.

“One of the problems which we are busy with its settlement is the insurance coverage of Iranian oil tankers and foreign vessels carrying our oil,” he added.

“There are 13 groups in the business of tanker insurance out of which 12 are European and Asian. The remaining which is a US group is influential and can share out the insurance coverage risk.”

Zamani-Nia also said that following offloading of several consignments of Iranian tankers abroad it appears that the problem of shipping Iran’s crude oil abroad is settled and only legal aspects require clarification.