{"id":1393,"date":"2017-10-25T14:59:54","date_gmt":"2017-10-25T14:59:54","guid":{"rendered":"https:\/\/madaresharghi.com\/nitc-local-partners-plan-tanker-fleet-renovation\/"},"modified":"2017-10-25T14:59:54","modified_gmt":"2017-10-25T14:59:54","slug":"nitc-local-partners-plan-tanker-fleet-renovation","status":"publish","type":"post","link":"https:\/\/madaresharghi.ir\/en\/nitc-local-partners-plan-tanker-fleet-renovation\/","title":{"rendered":"NITC, Local Partners Plan Tanker Fleet Renovation"},"content":{"rendered":"

madaresharghi<\/a>
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\tIran’s state tanker company NITC and the national shipping line IRISL plan to form a joint venture in collaboration with the Industrial Development and Renovation Organization to renovate one of the world’s largest fleet of crude oil carriers, an NITC official said on Monday.
\t“The modernization of NITC’s tanker fleet is underway as part of the company’s core strategy,” said Majid Mousavi, deputy director of NITC’s operations at Kharg, an island in the Persian Gulf from which more than 90% of Iran’s oil exports are shipped.
\tNITC operates some 70 tankers and vessels of all sizes with a capacity of around 15 million deadweight tonnage, one of the world’s largest tanker fleet in terms of the number of ships and capacity, ISNA reported.
\tThe company now looks to reduce the average age of its fleet from 10 years old in collaboration with domestic partners.
\t“NITC has signed an agreement to form a joint venture with the Islamic Republic of Iran Shipping Lines and with IDRO to form a joint company to renovate [NITC’s] tanker fleet and boost domestic shipbuilding and repair industry,” Mousavi said.
\tHe added that the renovation program will not affect NITC’s transport capacity.
\tNITC also operates three liquefied natural gas carriers, but the number of such ships will increase once a string of planned LNG projects take off. Iran exports its natural gas via pipelines because of its lack of infrastructure to liquefy gas for export via tankers.
\tPlan to renovate Iranian tankers started to take shape following Tehran’s nuclear deal with the world powers in mid-2015, which led to the lifting of an array of sanctions, including restrictions on the passage of Iranian tankers in international waters and ports, in the following year.
\tPrior to sanctions, only about 15% of the company\u2019s fleet were involved in domestic trade, with 85% trading internationally.
\tUnder international restrictions imposed over the nuclear dispute, NITC-owned tankers were not allowed to sail to Europe. According to reports, Iran had to change the flag and the names of its tankers to avoid EU restrictions.
\tNITC is in parallel talks with foreign companies on adding new vessels to its large fleet.
\tSirous Kianeri, the company’s CEO, said in an interview this year that it is “the best time to renew the fleet” as prices for building new ships are at their lowest.
\tAccording to data, NITC received its newest Very Large Crude Carrier from Dalian Shipyard in China in 2013.
\tThe company’s top priority is transportation of Iranian crude oil. However, it does not stop there to make profit.
\tMousavi pointed to the increasing number of NITC’s tanker-leasing deals with foreign customers and said, “Leasing prices depend on global rates and the market. We’d naturally make more profit if we lease more tankers.”
\tBy the middle of 2017, NITC had signed more than 70 contracts to lease vessels to international customers since the lifting of sanctions, the company’s data show.<\/p>\n

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madaresharghi Iran’s state tanker company NITC and the national shipping line IRISL plan to form a joint venture in collaboration with the Industrial Development and Renovation Organization to renovate one of the world’s largest fleet of crude oil carriers, an NITC official said on Monday. “The modernization of NITC’s tanker fleet is underway as part […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[2,8],"tags":[639],"yoast_head":"\nNITC, Local Partners Plan Tanker Fleet Renovation - madaresharghi | An Analytical Look at Middle Eastern Developments<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/madaresharghi.ir\/en\/nitc-local-partners-plan-tanker-fleet-renovation\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"NITC, Local Partners Plan Tanker Fleet Renovation - madaresharghi | An Analytical Look at Middle Eastern Developments\" \/>\n<meta property=\"og:description\" content=\"madaresharghi Iran’s state tanker company NITC and the national shipping line IRISL plan to form a joint venture in collaboration with the Industrial Development and Renovation Organization to renovate one of the world’s largest fleet of crude oil carriers, an NITC official said on Monday. “The modernization of NITC’s tanker fleet is underway as part […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/madaresharghi.ir\/en\/nitc-local-partners-plan-tanker-fleet-renovation\/\" \/>\n<meta property=\"og:site_name\" content=\"madaresharghi | An Analytical Look at Middle Eastern Developments\" \/>\n<meta property=\"article:published_time\" content=\"2017-10-25T14:59:54+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\">\n\t<meta name=\"twitter:data1\" content=\"2 minutes\">\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebSite\",\"@id\":\"https:\/\/madaresharghi.ir\/en\/#website\",\"url\":\"https:\/\/madaresharghi.ir\/en\/\",\"name\":\"madaresharghi | An Analytical Look at Middle Eastern Developments\",\"description\":\"madaresharghi | An Analytical Look at Middle Eastern Developments\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":\"https:\/\/madaresharghi.ir\/en\/?s={search_term_string}\",\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/madaresharghi.ir\/en\/nitc-local-partners-plan-tanker-fleet-renovation\/#webpage\",\"url\":\"https:\/\/madaresharghi.ir\/en\/nitc-local-partners-plan-tanker-fleet-renovation\/\",\"name\":\"NITC, Local Partners Plan Tanker Fleet Renovation - madaresharghi | An Analytical Look at Middle Eastern Developments\",\"isPartOf\":{\"@id\":\"https:\/\/madaresharghi.ir\/en\/#website\"},\"datePublished\":\"2017-10-25T14:59:54+00:00\",\"dateModified\":\"2017-10-25T14:59:54+00:00\",\"author\":{\"@id\":\"https:\/\/madaresharghi.ir\/en\/#\/schema\/person\/c52e345120843d5f259215c4e809cdd2\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/madaresharghi.ir\/en\/nitc-local-partners-plan-tanker-fleet-renovation\/\"]}]},{\"@type\":\"Person\",\"@id\":\"https:\/\/madaresharghi.ir\/en\/#\/schema\/person\/c52e345120843d5f259215c4e809cdd2\",\"name\":\"administrator\",\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/madaresharghi.ir\/en\/#personlogo\",\"inLanguage\":\"en-US\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/901309319175b0d219e688b01909d220?s=96&d=mm&r=g\",\"caption\":\"administrator\"}}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","_links":{"self":[{"href":"https:\/\/madaresharghi.ir\/en\/wp-json\/wp\/v2\/posts\/1393"}],"collection":[{"href":"https:\/\/madaresharghi.ir\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/madaresharghi.ir\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/madaresharghi.ir\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/madaresharghi.ir\/en\/wp-json\/wp\/v2\/comments?post=1393"}],"version-history":[{"count":0,"href":"https:\/\/madaresharghi.ir\/en\/wp-json\/wp\/v2\/posts\/1393\/revisions"}],"wp:attachment":[{"href":"https:\/\/madaresharghi.ir\/en\/wp-json\/wp\/v2\/media?parent=1393"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/madaresharghi.ir\/en\/wp-json\/wp\/v2\/categories?post=1393"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/madaresharghi.ir\/en\/wp-json\/wp\/v2\/tags?post=1393"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}