Norway

 Shipowners and charterers who are considering trading to Iran should understand that P&I cover for such trade is unlikely to remain in place where there is a risk that providing insurance risks the imposition of sanctions by the US. (“US sanctions on Iran – Announcement by President Trump on 8 May 2018,” Skuld, May 25, 2018.)

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"Western insurers are slowly reaching deals with Iran as they seek to re-enter a multi-billion dollar market although the pace of business is hampered by banking restrictions ten months on from the lifting of international sanctions...Iran is in more active talks with insurers to provide cover in a market valued at $9 billion overall last year and potentially double that in the next decade. Western companies need insurance in order to resume business with Iran. Shipping and trade credit insurance, which remove the risk of non-payment for goods, are the first types of insurance being offered...Norwegian ship insurer Skuld said it was in discussions with IRISL, while it was already insuring NITC ships." (Reuters, "Cautious Western insurers rebuild business ties with Iran," 10/21/2016).

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"The Islamic Republic of Iran Shipping Lines (IRISL) and Norway’s SKULD marine insurance company signed a memorandum of understanding (MOU) in the field of shipping insurance, IRIB news agency reported on Thursday. Based on the MOU, the Norwegian company will provide IRISL with different kinds of sea insurances and handle the complaints pertain to the insurances. SKULD will also cooperate with IRISL regarding training of personnel and upgrading knowledge and capabilities of the Iranian experts." (August 20, 2016). 

On June 30, 2020, the Mississippi Department of Finance & Administration identified Hemla Vantage as a company “engaged in investment activities in Iran, providing funds, goods or services valued at $20,000,000 or more in the energy sector of Iran.” 

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In 2017 the U.S. state of Mississippi listed Hemla Vantage on its Iran restricted companies list rendering Hemla Vantage ineligible for investment and/or state contracting.

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“NIOC plans to sign a deal with Norway’s Hemla Vantage next week, based on which the European firm will construct an FLNG unit with a production capacity of 500,000 tons per year,” Ali Kardor was also quoted as saying by ILNA." (October 2017).

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A Norwegian oil and gas company is closing in on a $600m contract with an Iranian petrochemical group for one of the first major gas deals since international sanctions were lifted. The contract will be a joint venture between Hemla Vantage and the Kharg Petrochemical Company, a quasi-privately-owned company, to produce and export liquefied natural gas and liquefied petroleum gas by 2017. (May 31, 2016).

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Iranian IIC (Iranian Investment Company), through its Oman based sister company MENE (Middle East New Energy), with Mr. S.A.N.S. Khamoushi as its chairman, has signed an agreement with Norwegian Hemla to expand their trading operations. (April 15, 2016).

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Hemla and Tamin Petroleum & Petrochemical Investment Company (Tappico) (www.tappico.com), one of the leading oil, gas and petrochemical companies in Iran, signed a Memorandum of Understanding in Oslo on the 18th of February 2016. (February 18, 2016).

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“A Norwegian oil and gas company is closing in on a $600m contract with an Iranian petrochemical group for one of the first major gas deals since international sanctions were lifted. The contract will be a joint venture between Hemla Vantage and the Kharg Petrochemical Company, a quasi-privately-owned company, to produce and export liquefied national gas and liquefied petroleum gas by 2017. 'Hemla will secure debt financing and will be 50/50 equity partners with KPC/KGRC [the latter is a sister company of the former],' said Gerhard Ludvigsen, a founding member of Hemla group and director of Hemla Vantage... 'We are inspired that Iran really wants to shift from a traditional player to a modern player. Nobody would believe that Iran could be the first in the world to produce LNG from a floating production vessel (FLNG) in 2017,' he added. The joint venture will purchase 200 million standard cubic feet of flared gas from offshore oilfields near Kharg Island over a period of up to 15 years. In its first phase, the site is projected to produce 500 metric tons of LNG and 200 tons of LPG per year. The FLNG barge, produced in China and ready to be shipped to reach Kharg Island by October, will be leased from Exmar, a Belgian company.” (Financial Times, “Norway’s Hemla Vantage closes in on $600m Iran gas joint venture,” 5/31/2016)

"International financial transactions involving Iran have become impossible and the impending US sanctions are negatively influencing the business climate and opportunities.  Against this background, and to comply with the sanctions imposed by the US government, it has been decided by Group CEO Remi Eriksen to close down the DNV GL operations in Iran. Our operations in Iran will cease within 4 November 2018. " (September 24, 2018)

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National Iranian Tanker Company (NITC) received two certificates from Norway’s DNV GL, an international accredited registrar and classification society, NITC’s Public Relations Department announced. The international body, which has 350 offices operating in more than 100 countries, granted NITC ISO 9001:2015 quality management system standard and ISO 14001:2015 environmental management system standard. (September 25, 2017).

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In September 2013 DNV and GL merged to become the world's leading ship and offshore classification society (Company Website). 

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"The Islamic Republic of Iran Shipping Lines (IRISL) and the Norwegian international certification body and classification society, DNV GL, signed a cooperation agreement in Tehran. On the way to ease regular commute of Iranian vessels and ships from and to major international and European ports, the signed MOU requires DNV GL to issue international certifications for Iranian vessels after conducting legal inspections...The DNV GL director, underlined the necessity of expanding the bilateral ties between the two companies, vowing that his side will provide Iranian ships with quality services." (Tehran Times, "IRISL, Norwegian risk management company clinch MOU," 7/10/2016) 

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"In a letter sent to U.S. pressure group United Against Nuclear Iran (UANI) dated June 15 and seen by Reuters, GL said it had stopped offering services to the Islamic Republic of Iran Shipping Lines (IRISL) and the National Iranian Tanker Company (NITC). 'It is of the utmost importance that we maintain our good reputation,' GL said in the letter. 'Therefore, we have pursued the decision to cease rendering services to the Iranian companies mentioned... 'UANI, which includes former U.S. ambassadors on its board and is funded by private donations, had said GL's cover for IRISL was in violation of EU sanctions. Mark Wallace, UANI's chief executive and a former U.S. ambassador, welcomed GL's decision." (Reuters, "Iran feels heat as Europe ship classifiers halt work," 6/18/12)

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"Late last year, another leading classification society, Norway’s Det Norske Veritas, ended its relationship with Iran under U.S. pressure." (Washington Post, "Iran, unable to sell oil, stores it on tankers," 5/14/2012)

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"Det Norske Veritas (DNV), a leading ship-certification firm with 18 to 20 employees in Iran, is closing its office there, ending its inspections of Iranian vessels and sending 'termination notices' to 15 to 20 international oil rigs that are drilling in Iranian waters with DNV certification. 'Just looking at the political landscape and the political risk, we certainly don’t see it as a growth area, and we don’t want to be doing business with countries that don’t match with our own value statements,' DNV spokesman Blaine Collins said. 'So it was time to do this.' He said DNV thinks it has complied with international sanctions. U.S. lawmakers have seized upon DNV and a handful of similar firms as a new tool for tightening economic screws on Iran because of concern that the Middle East country might be building a nuclear weapon." (Washington Post, "Congress sees shipping-certification firms as tool to tighten Iran noose," 12/5/2011)

"Following the sanction relief in Iran announced in January 2016, Kvaerner has been involved in business development activities in Iran. Kvaerner is committed to comply with all applicable laws, including applicable sanctions regulations. In addition Kvaerner has agreements with third parties (clients, financial services) who impose particular and additional restrictions. It is vital for Kvaerner to be fully aware of the ultimate beneficial owners of potential local partners and clients, given the sanctions that remain in place on certain individuals and entities (both state-owned and private). Kvaerner performs enhanced due diligence investigations into prospective external business partners."

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"The representative of Kvaerner ASA, Norwegian engineering and construction services company, said the wide welcome of the Tehran IPC Conference heralds a bright future for Iran's petroleum industry. Speaking with Shana on the sidelines of the two-day conference which was mounted by Iranian Ministry of Petroleum to introduce the terms of its new oil and gas contracts, Bjørn Arne Lundblad, the vice president of strategic business development of Kvaerner ASA, said the presence of more than 1,500 executives and representatives of international firms at the conference is an indication of their interest in Iran's oil and gas projects. 'The world's oil and gas industry is now seeking new grounds for investment and Iran is a very suitable option for them,' he said. Lundblad said many projects have been put on table at the conference before the potential investors which require a long time for their assessment and appraisal." (Shana, "Norwegian Firm Welcomes Tehran IPC Conference," 11/30/15)

TTS Group’s company website lists “Paziresh Novin Co. Ltd.” as its sales agent and contact in Tehran, Iran. (TTS Group website, "Sales Agents")

"European shipowners could violate impending EU sanctions against Iran without even knowing it every time they set sail, leaving them vulnerable to being blacklisted, the managing director of leading industry group Intertanko said on Friday... Intertanko's members own the majority of the world's tanker fleet." (Reuters, "Refuelling EU shippers may violate Iran sanctions," 5/11/2012)

"The oil rigs currently operating in Iranian waters mostly work for Iranian state-owned companies. The rigs are owned by a variety of foreign firms, including Norway's Sinvest, London-based Foresight Group, China Oilfield Service, Japan Drilling and Saipem, a subsidiary of Italian oil giant ENI. Industry sources said they would probably be certified by either Lloyd's or Bureau Veritas. BV did not respond to inquiries." (The Washington Post, "Congress sees shipping-certification firms as tool to tighten Iran noose," 12/5/2011)

• Icarus Design was listed on the June 28, 2010, US Federal Register's banned entity list "for reexporting the Bradstone Challenger, a vessel that was subject to the EAR, to Iran for intended use by the Iranian Revolutionary Guard Corps (IRGC) Navy and for providing technical assistance on Iranian naval projects."

• See Icarus Marine and Scavenger Manufacturing.

 The Europe to the Middle East and India trade combines main load ports in Europe with destinations in the Red Sea, Persian Gulf and India. Apart from our direct ports in the Middle East area, we also serve Iran and Iraq on a transhipment basis, utilizing our own tonnage from Jebel Ali. With the extensive Höegh network, we can furthermore offer shipment out of several Mediterranean ports to the Middle East.

 The main destinations in the Red sea and the Persian Gulf are served with an average frequency of two sailings per month. Exceptions are Aqaba - Jordan and Mersin - Turkey, which are served on a monthly basis. Iran and Iraq are also served monthly, but with transhipment. Destinations in India are presently called upon on a monthly basis. (Company Website)

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Höegh Autoliners and A.P. Moller – Maersk A/S has announced their agreement for A.P. Moller – Maersk A/S to become a shareholder in Höegh Autoliners holding 37.5 per cent of the shares effective from 1 January 2008. Leif Höegh & Co Limited will retain the position as majority shareholder in Höegh Autoliners. At the same time Höegh Autoliners acquires A. P. Moller - Maersk’s fleet of 18 car carriers (including six newbuildings). (Company Website)

"Norwegian Foreign Minister Borge Brende announced that Oslo has opened a one-billion-dollar credit line to help the Norwegian companies with export of their commodities to Iran. 'DNB as Norway's largest financial services group is due to be active in Iran's market,' Brende added." (Fars News, "Minister: Norway Opens $1bln Credit Line to Ease Exports to Iran," 10/9/2016).

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Noted for conducting business with Iranian banks. (Avi Jorisch, "Iran's dirty banking," 2010)