Iran calls back oil tankers from EU

Iran calls back oil tankers from EU

Azerbaijan, Baku, Jul.10/ Trend, D.Khatinoglu/

Iran called back seven of its 10 tankers working in European Union, Mehr News Agency reported, saying this step is Iran's way of applying sanctions against the Union.

An Iran National Oil Company's official told Mehr anonymously that Iran's 10 super tankers have been sailing in EU, but recently seven of them have been called back to Iran from Mediterranean Sea to the Persian Gulf.

"There is a need for more tankers to ship Iranian oil to international markets, but because of sanctions, they have to avoid some countries to ship Iranian crude oil," he said.

Last month China and India, as Iran's major oil costumers asked Iran to ship oil exports to these countries itself, namely Iran should deliver crude oil to these Asian customers in their ports.

Japan and South Korea have not scheduled a purchase of Iran crude oil in July, because of shipping problem.

About 90 per cent of insurance cover, reinsurance companies, P&I clubs and classification societies' services to world's ships are provided by European-based companies.

EU has cut its Iranian oil purchase alongside stopping insurance, reinsurance, Protection & Indemnity (P&I) and technical certification to ships that carry Iranian oil since July 1.

Recently Iran said that the Iranian Kish P&I club is ready to provide protection and indemnity insurance to Iranian tankers. Tehran says that domestic insurance companies will insure the oil tankers thereafter.

Iran also says the agreement between Iran and an Asian classification society to provide verification to Iranian tankers was achieved as well. Without verification from such bodies, ships are unable to call at international ports.

Iranian oil shipping capacity is around 10.5 million tons, but because of restored huge unsold oil because of sanctions, some of 36 Iranian oil ships are taken up by stoking crude oil. Iran's oil exports have halved during last six months from 2.2 to 1.2 million barrels per day.

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