Iranian Ship Linked to Houthi Attacks Heads Home Amid Tensions
(Bloomberg) — An Iranian ship that’s been linked to Houthi attacks in the Red Sea is returning home, removing a prominent asset in the area as the Islamic Republic braces...
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).
NITC has around 70 tankers but many of them are ageing and require valid insurance, testing, inspection and certification, known as ship classification, to be able to ply international waters again.
Safaei said that NITC was the first Iranian company that has managed to rent its ships to foreigners after the lifting of sanctions. (Reporting by Bozorgmehr Sharafedin, editing by Louise Heavens)
(c) Copyright Thomson Reuters 2016.
Join the gCaptain Club for curated content, insider opinions, and vibrant community discussions.
Join the 105,983 members that receive our newsletter.
Have a news tip? Let us know.
Access exclusive insights, engage in vibrant discussions, and gain perspectives from our CEO.
Sign UpMaritime and offshore news trusted by our 105,983 members delivered daily straight to your inbox.
Essential news coupled with the finest maritime content sourced from across the globe.
Sign Up