Tehran, Iran, May 23
By Mehdi Sepahvand - Trend:
Iranian tankers will start their first post-sanctions journeys to Europe in the coming weeks, according to Ramin Rajaei, an official at the National Iranian Tanker Company.
He also pointed out that European tankers are also expected to travel to Iran soon, IRNA reported May 23.
European tankers have been unable to dock at Iranian ports for five years due to sanctions. The sanctions were lifted after Iran's nuclear deal with world powers was put into force in January.
The official went on to say that Norwegian and British companies have signed deals with Iran for providing the country with new shipping equipment.
The Iranian fleet includes 70 tankers, making it the biggest tanker fleet of the world.
Iran faces a struggle to increase oil exports because many of its tankers are tied up storing crude, some are not seaworthy, and foreign shipowners remain reluctant to carry its cargoes.
Tehran is seeking to make up for lost trade to Europe following the lifting of EU sanctions imposed in 2011 and 2012, which deprived it of a market that accounted for over a third of its exports and left it relying completely on Asian buyers.
Iran has increased its oil export from 1 mbpd under the sanctions to 2.2 mbpd now and is increasingly concerned with the number of tankers it could get to carry the oil.
The 70 tankers used to carry 90 percent of the sanctions-era oil. But now they are able to cover less than half, meaning the country needs more foreign tankers and needs them quick.