Iran Oil-Tanker Owner Seen Expanding Fleet by IHS Amid Sanctions - Bloomberg

Iran Oil-Tanker Owner Seen Expanding Fleet by IHS Amid Sanctions - Bloomberg:

"NITC, Iran’s biggest tanker company, increased the capacity of its supertanker fleet by 23 percent this year amid sanctions related to the nation’s nuclear program that bar most of the world’s ships from carrying Iranian crude, according to IHS Maritime.
The Tehran-based company added seven new very large crude carriers, each able to transport 2 million barrels of oil, according to data from the Coulsdon, England-based research company, which provides information for the United Nations’ shipping agency. NITC has 37 supertankers and its entire fleet can hold about 86 million barrels of oil, equal to 65 days of the nation’s exports, IHS data show.
European Union sanctions that started in July 2012 prevent most non-Iranian tankers from hauling the country’s crude because almost all ships are insured under the 28-nation bloc’s laws. The U.S. and EU say Iran’s nuclear program is aimed at producing weapons while the government in Tehran says it is for civilian purposes."

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