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1st Iranian Tanker to Reach EU in June

1st Iranian Tanker  to Reach EU in June1st Iranian Tanker  to Reach EU in June

With the Egypt’s permission to Iran for using the SUMED oil pipeline, the first Iranian oil tanker will berth at a European oil terminal in the month starting June 21, an Iranian official at National Iranian Tanker Company announced on Wednesday.

“NITC’s vessels will resume oil export to European Union countries next month, which is unprecedented since the imposition of sanctions against the country,” Nassrollah Sardashti, NITC’s commercial director, was quoted as saying by Mehr News Agency.

SUMED is an oil pipeline in Egypt running from Ain Sukhna Terminal on the Gulf of Suez to Sidi Kerir Terminal in Egypt's northern city of Alexandria on the Mediterranean Sea.

Although NITC has the world’s largest fleet of crude carriers, which had prepared to return to the European market since 1.5 year ago, European customers have so far carried Iranian oil to EU countries.

 “In line with the move, NITC has entered into negotiations with international rating institutes and succeeded to prove its vessels’ class,” he said.

Sardashti noted that the company has also started cooperation with the P&I (protection and indemnity) insurance club and overhauled its fleet to make a strong comeback to the market. 

Financialtribune.com