Restrictions on Iranian tankers’ insurance have been removed and the country’s crude carriers are now allowed to enter any oil terminal in the world, National Iranian Tanker Company (NITC)'s CEO Ali Akbar Safaee said.
“With the resolution of insurance problems, international insurance institutes have expanded their coverage to Iranian vessels, which can now berth at all ports,”he said.
“Accordingly, all tankers that are under Iran’s ownership as well as any [foreign] tanker that enters Iran’s ports will not have any problem with regards to the issue of insurance," he added.
He explained that in the wake of the removal of the sanctions foreign ships are also now able to dock at the Iranian ports.
He further pointed out that the Iranian shipping lines are in talks with international insurance companies to use their services.
Iran has already resumed shipments to Europe, though apparently not by its own tankers. In February, three international vessels loaded a total of 4 million barrels of oil purchased by French major Total, Spanish refiner Cepsa and Lukoil, Russia's second largest oil producer.
Iran owns the world’s largest oil transportation fleet consisting of 70 tankers that include 42 VLCCs (very large crude carriers), each able to carry 2 million barrels of oil.
Some media reports say Iran has put orders for the construction of 20 VLCCs with Chinese companies which have delivered them over the past two and half years.