Iranian VLCCs ‘more visible, active’

March 3, 2014 12:52 am

According to data by ship tracking firms, at least three Iranian supertankers had made their first trips to Asia in recent weeks after months at Iranian anchorages where they were storing unsold oil, Reuters has reported. “While all eyes will be on whether we see an extension in sanctions relief after July, Iran’s fleet is more visible and active now,” one shipping industry source said. Many of Iran’s oil tankers belong to the country’s top operator NITC. “The enlarged NITC VLCC fleet will be able to go about its business without all of the subterfuge which has been apparent over the past few years. Initially, we are likely to see more VLCC cargoes heading East, freeing up the units which have formed the nucleus of the long-term Iranian floating storage fleet,” tanker broker EA Gibson said.