Iranian Military Ready to Protect Oil Tankers
Iran's armed forces will protect Iranian oil tankers against any threats, an Iranian military official said on Monday after the United States called the ships a "floating liability" and warned ports operators not to allow them to dock.The United States resumed sanctions on Iran's oil, shipping and banking industries last Monday after U.S. President Donald Trump pulled out of a 2015 international agreement curbing Iran's nuclear programme in May."Iran's armed forces...are prepared…
Iran Seeks $2.5B to Modernize its Oil Tankers
Iran is seeking $2.5 billion investment to modernise its oil tankers fleet following the lifting of sanctions against Tehran, managing director of National Iranian Tanker Company (NITC) was quoted as saying by state news agency IRNA on Saturday. Iran emerged from years of economic isolation after crippling sanctions were lifted in January in return for Tehran complying with steps to curb its nuclear ambitions. Reuters reported last month that two Chinese firms were pushing for 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 billion will be invested in it," said Ali Akbar Safaei, managing director of National Iranian Tanker Company (NITC).
Iran Plans Listing NITC to Fund Fleet Modernization
Iran plans to list its national tanker company to raise badly needed cash to upgrade its massive fleet and replace older vessels, as the middle east country prepares for an aggressive return to the global oil market. The country emerged from years of economic isolation last weekend after crippling sanctions were lifted in return for Tehran complying with steps to curb its nuclear ambitions. Iran has one of the world's biggest tanker fleets, but many of the ships are ageing and require valid insurance…
Wreck Removal Convention Inforce From April
The insurance and certification requirements of the Convention on the Removal of Wrecks become effective this April. In this connection, the Danish Maritime Authority has a request for Danish companies and shipowners. All Danish ships of or above 20 GT (gross tonnage) must take out insurance or other financial security to cover the owner’s liability in connection with the removal of wrecks. The ships must not engage in trade at all if such insurance or other financial security is not held. The regulations apply to all types of ships – not just merchant ships, but also fishing vessels, passenger ships and recreational craft. Large ships of or above 300 GT must carry a certificate on board, certifying that they have the required insurance/financial security.
