[wanabidii] Iran Oil Tankers Renamed As NITC Adopts Tanzania’s Flag

NITC, an oil-tanker company owned by Iranian pension funds, renamed at
least 10 of its vessels and switched them to a Tanzanian flag amid
increasing curbs on transactions with the Persian Gulf nation.

NITC renamed five very large crude carriers, each holding about 2
million barrels of oil, and five Suezmaxes, hauling 1 million barrels,
according to the Equasis shipping database maintained by the European
Commission. Ownership was switched from NITC to new companies
operating from the same address in Tehran and NITC remains the
operator, the data show. All the ships were previously registered in
Malta or Cyprus.

A full European embargo on Iranian crude exports, which starts July 1,
extends to insuring vessels that carry the oil. Twenty-five NITC
tankers are being used to store crude, the Paris-based International
Energy Agency said June 13. The U.S. and Europe said Iran's nuclear
program is aimed at developing atomic weapons while the government in
Tehran says it is for civilian purposes.

Habibolah Seyedan, NITC's commercial director, was unavailable for
comment, said a person who answered a call to his office today. The
company lists 39 tankers on its website. Philtex Corp. operates the
administrative office of the Tanzania Zanzibar International Register
of Shipping from Dubai, according to the register's website. A message
to the listed e- mail address for enquiries wasn't immediately
answered.

To contact the reporters on this story: Michelle Wiese Bockmann in
London at mwiesebockma@bloomberg.net; Rob Sheridan in London at
rsheridan6@bloomberg.net

Read More : http://www.bloomberg.com/news/2012-06-25/iran-oil-tankers-renamed-as-nitc-adopts-tanzania-s-flag.html

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