The National Iranian Tanker Co. is close to obtaining new insurance needed to boost crude exports and resume trade with old customers after four years of sanctions. NITC has been negotiating with foreign organizations for the past six months to …
Foreign oil tanker owners are expected to make a slow return to Iran despite the lifting of many sanctions as insurers tread carefully, leaving shipping players unwilling to pick up cargoes as quickly as Tehran has wanted. A nuclear deal …
Japanese crude buyers are set to switch back to private insurance providers for transportation of Iranian oil, after relief from some EU sanctions goes into effect next week, industry and government sources said. Under the interim deal reached between Tehran …
Europe is days from suspending a ban on reinsuring tankers hauling Iranian oil, a measure that helped cut the nation’s crude exports by more than 50 percent when it was implemented. The six-month relaxation starts Jan. 20 and will allow …
Two European insurers have withdrawn cover for tankers involved in the Iranian oil trade, the first such move since tough new sanctions were imposed in July, documents obtained by Reuters show. The tankers, operated by Hong Kong’s Titan Petrochemicals Group …
