NITC Eyes Closer Norway Collaboration

The National Iranian Tanker Company is prepared to cooperate with Norwegian companies to transport liquefied natural gas cargo to international markets, managing director of NITC said on Sunday.

After talks with Dilek Ayhan, Norway's deputy minister of  trade, fisheries and industry, in Tehran, Ali Akbar Safaei said, "Thanks to the implementation of the nuclear agreement that ended the UN nuclear sanctions as well as EU and US economic, financial and banking sanctions, grounds have been paved to develop collaboration between the two states," Shana reported.

The NITC chief said his company has close cooperation with a large number of Norwegian companies sectors, namely in spare parts for vessels, insurance and classification.

Ship classification is the process of detailing technical aspects of vessels by international institutions that allow them to dock at ports and terminals and sail in international waters with ease.

Pointing to Iran's natural gas reserves, the official noted that plans have been made to maximize Iran's production and export of products with higher value-added, stressing that the plan necessitates cooperation with foreign companies.

According to published reports, Iran's natural gas export has now reached 32 million cubic meters per day. Moreover, it is currently producing over 380 mcm/d of gas from South Pars--the world's largest gas field that it shares with Qatar in the Persian Gulf.

Safaei noted that due to Iran's strategic location and its proximity to international sea lanes, Tehran and Oslo can cooperate also in bunkering (supply of fuel for use by ships in a seaport).

  Int'l Insurance Cover

“All Iranian tankers carry cargo under the certification of the international classification institute Lloyd's Register. In addition, they are all covered by international insurance firms."

Lloyd’s Register is a global engineering, technical and business services organization wholly owned by the Lloyd’s Register Foundation, a UK charity dedicated to research and education in science and engineering.

The official believes that by improving its role in LNG transportation Iran not only can play a bigger role in global markets but also handle oil shipments during critical conditions, such as the snapback of sanctions.

Underscoring the positive effects of Iran's nuclear accord with the six world powers, the senior Norwegian official expressed readiness to develop collaboration with Iran in a wide range of fields, especially marine transportation and LNG ships and shipment projects.

Iran has 42 very large crude carriers (VLCCs), nine Suezmaxes, five Aframaxes and several other ships, with the fleet’s average age at around 8.5 years. NITC operates one of the world's largest tanker fleet ahead of regional rival Saudi Arabia as well as Qatar, Oman and the UAE, according to the United Nations' 2015 Maritime Transport report.

According to reports, oil shipping accounts for nearly a third of global maritime trade, with the Strait of Hormoz in the Persian Gulf being one of the world's strategic sea lanes.