Friday, April 8, 2016

Iran wants $2.5 bill to modernise tankers

Iran is thought to be seeking $2.5 bill investment to modernise its tanker fleet, following the lifting of sanctions against Tehran, NITC managing director was quoted as saying by state news agency IRNA last Saturday.
Reuters reported last month that two Chinese companies were negotiating multi-billion dollar deals with Iran to modernise its shipping fleet and build a high-speed railway.
“To expand Iran’s oil tanker activities, $2.5 bill will be invested in it,” Ali Akbar Safaei, NITC managing director reportedly said. 
NITC has around 70 tankers but many of them are ageing and require updated insurance, testing, inspection and certification/classification, to be able to trade internationally again.
Safaei was reported as saying that NITC was the first Iranian company that has managed to charter its ships to overseas interests, after the lifting of sanctions - source Reuters.

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