Iranian tanker ships plan to return to European ports as anti-Iran sanctions falter

Managing director of the National Iranian Tanker Company (NITC) says his company is making plans to get back to European markets after international sanctions against the Islamic Republic are lifted.

Ali Akbar Safaei told Iranian media on Wednesday that when the sanctions are removed, NITC will not only return its fleet to European ports, but will also support other Iranian shipping companies.

Sanctions against Iran were imposed by the US and European Union at the beginning of 2012, alleging that there was diversion in Iran's nuclear program toward military objectives; an allegation that Iran categorically rejected.

The Islamic Republic and the P5+1 group of countries – the US, the UK, France, Germany, Russia and China – reached a mutual understanding on April 2 in the Swiss city of Lausanne, which is considered a prelude to the achievement of a comprehensive deal on Tehran’s nuclear program. A key point of Lausanne statement is a promise to lift a series of sanctions against various economic sectors of Iran.

The Iranian official noted that removal of sanctions will open new markets to NITC and the company is formulating different scenarios to secure a fair share of European markets while identifying more markets in other parts of the world.

Safaei said NITC has been able to implement its development plans despite sanctions, adding, “At present, the National Iranian Tanker Company’s fleet has a capacity of 15.5 million tonnes and is in good shape and ready to return to Europe once sanctions are removed in order to create high added value in Iranian and global transportation markets.”

The official said NITC has been taking steps to expand its maritime markets since a long time ago.

“The company has already formed a big fleet for transportation of petrochemical products, pitch, methanol, and liquefied petroleum gas (LPG), and has been also cooperating with Iran's offshore industries,” he noted.

Safaei stated that due to rising international demand for LPG and Iran's abundant gas reserves, the country is sure to considerably expand it liquefied natural gas (LNG) and LPG carrying fleet.

His remarks came after Iran's deputy petroleum minister for strategic affairs, Mohammad Souri, said earlier this week that Iran is planning to ramp up its LPG sales after doubling its LPG fleet.

Noting that 15 LPG carriers purchased in the past couple of years have now joined Iran's fleet, he added, “The arrival of this number of ships has substantially increased the country’s LPG shipment capacity and reduced export and maritime transportation constraints to a minimum.”

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