Monday, January 24, 2011

NITC to be among top 3 tanker firms

National Iranian Tanker Company (NITC) will be among the top three largest oil tanker companies across the globe by 2013, an official of the company says.

Once NITC takes delivery of 22 Very Large Crude Carriers (VLCC) and expands its fleet by 72 percent by 2013, it will be among the top three, Area Manager Captain R. Qareh told Bloomberg on Sunday.

The official described the sanctions on Iran as ineffective, saying that NITC continues to carry crude produced by Royal Dutch Shell Plc and Total SA, in addition to oil from Saudi Aramco and other producers in Kuwait and the UAE capital Abu Dhabi.

"We have not faced any problems," Qareh said.

The NITC plans to have 74 ships of all sizes, including VLCCs and smaller vessels, he said, adding that the company will operate 50 VLCCs by 2013, which is nearly twice as much as the current number of 28.

He also underlined that the company is now the biggest tanker operator in the Middle East and the fourth-biggest worldwide with a total of 43 ships.

Norway's Frontline Ltd. is the world's largest operator of supertankers.

NITC is a subsidiary of the National Iranian Oil Company, which was privatized in 2009.

Its ships carried 104 million tons of crude last year, 51 percent of which went to Europe.


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