Shipping

"Iran is pushing to find new ways to extract and export its vast natural-gas reserves, including developing facilities to liquefy the commodity and ship it to Europe in two years, now that Western sanctions have lifted, according to a top Iranian official... Mr. Kameli said his company is also in talks with European companies, including Oslo- and Nasdaq-listed Golar LNG Ltd., to build floating LNG facilities—offshore vessels on which the gas would be liquefied. Such a project would take 'less than two years,' he said. Golar declined to comment. Once LNG facilities are in place, Mr. Kameli said, exports to 'Europe definitely could be considered.'" (The Wall Street Journal, “Iran Seeks Rapid Reboot for Natural Gas Exports,” 1/26/2016)

"As the speed and scale of Iran’s return to the global crude market shows signs of surprising oil analysts, one shipment from the Persian Gulf country that was meant to be a milestone cargo isn’t proving straightforward to shift. Iran shipped more than 2 million barrels a day in early April, according to ship-tracking data compiled by Bloomberg and the country’s own figures. Added to the amount the nation refines itself, that implies production is already close to pre-sanctions levels. But it hasn’t all proved plain sailing: a tanker that was supposed to be hauling one of the first post-sanctions cargoes has gotten stuck near Romania and it’s not clear exactly why. The Distya Akula, a 21-year-old vessel, still hasn’t unloaded its 1 million-barrel cargo and has been bobbing for weeks off the eastern European country’s coast, tracking data show. Shortly after the vessel left Iran at the start of February, its owner initially celebrated what could have been the very first cargo delivered to Europe since sanctions were lifted against Iran. The vessel’s owner at first said Litasco SA, a unit of Lukoil, had booked it. The shipping company also initially said the carrier would go to Constanta on Romania’s Black Sea coast, where Lukoil has a refinery. While that’s where the vessel has indeed ended up, the owner corrected its initial statement and said Litasco wasn’t the buyer and Constanta wasn’t the destination. Throughout its odyssey, Distya Akula has spent time waiting. It was near the southern entrance of Egypt’s Suez Canal for more than 30 days. Now it’s been near Romania for more than three weeks. Tehseen Chauhan, an external spokeswoman for Elektrans Shipping, the Mumbai-based owner, declined to comment on why the ship’s voyage has been longer than normal." (Bloomberg, “As Iran Ramps Crude Oil Sales, Landmark Cargo Proves Tough,” 4/29/2016)

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M.T. Distya Akula is the first Indian Suezmax tanker to load 130,000 mt of Iranian crude for Litasco, the trading arm of Russia's Lukoil three weeks after the removal of sanctions against Iran.  In partnership with Arya Industries (fronted by Shri Pawan Arya and Shri Puneet Arya) Gauri Ships - which is part of the Elektrans Group - co-owns and operates Distya Akula, Suezmax crude oil tanker.  With a crew complement of 24, she is flying the Indian flag. (Jan, 26, 2016)

"While NITC continues to be the market leader in terms of the number of ships deployed for loading crude from Iran, other companies with ships loading from the country include Dynacom, Delta Tankers, Euronav, Polembros, COSCO, Avin International, Olympic Shipping and Management, New Shipping and Thenamaris, it said." (Platts, "Tankers: Sharp Rise in Iran's Crude Oil Shipments to Europe," March 2017).
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“More than 25 European and Asian-owned supertankers are shipping Iranian oil, data seen by Reuters shows, allowing Tehran to ramp up exports much faster than analysts had expected following the lifting of sanctions in January. Iran was struggling as recently as April to find partners to ship its oil, but after an agreement on a temporary insurance fix more than a third of Iran's crude shipments are now being handled by foreign vessels. ‘Charterers are buying cargo from Iran and the rest of the world is OK with that,’ said Odysseus Valatsas, chartering manager at Dynacom Tankers Management. Greek owner Dynacom has fixed three of its supertankers to carry Iranian crude. Some international shipowners remain reluctant to handle Iranian oil, however, due mainly to some U.S. restrictions on Tehran that remain and prohibit any trade in dollars or the involvement of U.S. firms, including banks and reinsurers... The resumption of international shipping of Iranian oil has been made possible by an increase in interim, limited, insurance cover by ‘P&I clubs’ - maritime mutual associations that provide ‘protection and indemnity’ insurance to shippers. The International Group of P&I Clubs, which represents the world's top 13 ship insurers, increased the amount covered by so-called ‘fall-back’ shipping insurance from 70 million to 100 million euros ($113.36 million) in April... Indeed, while the partial lifting of sanctions means foreign tankers can now transport Iranian oil, risks remain because large accidents might not be fully covered. As a result, insurers say many first-tier oil shippers, many of them publicly listed such as Euronav, Teekay Group or Frontline, still shy away from carrying Iranian oil.” (Reuters, “As Iran's oil exports surge, international tankers help ship its fuel,” 6/6/2016)

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"A Greek oil-tanker owner was asked about transporting Iranian crude, a shipment that’s only just become permissible following an easing of sanctions that hit the Persian Gulf country four years ago. Dynacom Tankers Management Ltd., based in the Athens suburb of Glyfada, has been approached to haul the Persian nation’s crude, said chartering manager Odysseus Valatsas, declining to elaborate. Shipbroker reports compiled by Bloomberg show that Litasco SA and Cia. Espanola de Petroleos SAU both have Iranian cargoes for which they will need vessels next month for westbound shipment." (Bloomberg, “Greek Tanker Owner Asked About Iran Oil as Europe Awaits Influx,” 1/26/2016)

“Asia is the main destination for crude shipped by foreign vessels, with India, China and Japan the biggest takers, but at least four international tankers are also heading for Europe. India, in particular, is taking a lead role as its demand soars and refiners such as Essar Oil, Reliance Energy, Hindustan Petroleum Corp, and Bharat Petroleum Corp enjoy good ties with Iran. The non-Iranian companies currently chartered to carry its oil include Chinese state controlled shipper China Shipping Development, PetroVietnam and Japan's Idemitsu Kosan.” (Reuters, “As Iran’s oil exports surge, international tankers help ship its fuel,” 6/6/2016)

" The South Korean Daewoo Shipbuilding and Marine Engineering Co. is to establish a shipbuilding company in a joint venture with Iranian state-run companies, Tehran Times daily reported on Tuesday." (January 11, 2017)

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"Major Iranian shipping company Islamic Republic of Iran Shipping Lines and oil producer Iranian Offshore Oil Co. have reached preliminary deals with South Korean shipyards for orders worth around $2.4 billion, people involved in the talks said Tuesday. The agreements are part of Iran’s efforts to make a comeback in global shipping after the lifting of international sanctions earlier this year, but completing the orders will depend on financing that the Iranians haven’t yet secured, the people said. 'The yards are making slots available to the Iranians starting in 2018 and 2019,' one of the people said. 'The Iranians are trying to make the 20% down payments through oil state-to-state deals to finalize the orders.' ... Islamic Republic of Iran Shipping Lines, known as IRISL, operates a fleet of container vessels, bulk carriers and tankers... Iranian Offshore Oil Co., a subsidiary of state oil giant National Iranian Oil Co., is in advanced talks for firm orders of at least five jack-up rigs with Daewoo Shipbuilding & Marine Engineering Co. at around $205 million each, the second person said." (The Wall Street Journal, “Iranian Oil, Shipping Companies Set For $2.4 Billion Ship Deals,” 6/7/2016)

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"Daewoo Shipbuilding & Marine Engineering (DSME) has won the right to manage Iran's state-run shipbuilder, paving its way into the Middle Eastern nation with huge growth potential. DSME said Monday that it recently signed a memorandum of understanding (MOU) with the Iranian government to run Iran Shipbuilding & Offshore Industries Complex. Under the agreement, DSME will also transfer manufacturing technology to the Iranian shipbuilder. The deal is widely expected to help DSME and other domestic shipbuilders win orders from refiners and other companies in Iran... Iran has been seeking to cooperate with Korean shipbuilders to modernize its aging dockyards... According to DSME officials, the Industrial Development and Renovation Organization of Iran (IDRO), the state-run organization in charge of the nation's strategic industries such as automobiles and shipbuilding, is seeking to form a partnership with the Korean shipbuilder. Among others, IDRO wants to acquire advanced technology and dockyard management knowhow from DSME in order to transform Iran into a shipbuilding industry hub in the Middle East. The organization also requested DSME to invest in Iran to manufacture equipment and intermediary materials." (The Korea Times, “Daewoo Shipbuilding to manage Iranian shipbuilder,” 5/16/2016)

"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)

"A delegation of Iranian petrochemical experts explored grounds for cooperation on the export of Iranian petrochemicals in a meeting with the head of Antwerp Port in Belgium on Thursday." (Financial Tribune, "Belgian Port to Help boost Petrochemical Exports," 7/7/2017). 

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"The port of Antwerp yesterday (Monday), in the Iranian capital Teheran, signed a five-year cooperation agreement with Shahid Rajaee Port Authority. This is the port authority of the Iranian port Bandar Abbas. The port accommodates nearly 90% of containers which enter and leave Iran. According to the CEO of the Belgian port company, Eddy Bruyninckx, Iran is 'a country with economic growth potential and a gateway to neighbouring Middle East countries.' Bandar Abbas ferries nearly half of the 200 million tonnes which are annually conveyed in transit through the 11 Iranian ports. Antwerp will exchange information with the port of Bandar Abbas and port-based development projects there. However joint work will also be carried out in the sphere of training through APEC, which is the training centre in the port of Antwerp." (Brussels Times, "Port of Antwerp signs cooperation agreement with Iranian port Bandar Abbas," 7/11/2016). 

On January 11, 2016, Tarros announced new “service to Northern Iran, via Poti (Georgia).” Tarros proudly elaborated, “We can offer you a door to door service, delivering your goods in our containers directly to several Iranian cities such as Tabriz, Teheran and Mashhad.” (Tarros website, “New Tarros service to Northern Iran, via Poti (Georgia),” 1/11/2016).  

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Tarros’s participated in the Italy-Iran Chamber of Commerce and Industry (IICCI), whose “main purpose … is strengthening, fostering and developing economical and cultural relations by increasing the level of mutual knowledge, key tool for an effective integration.”  (IICCI website, “About Us.”).