Arab Today, arab today china to start delivering 12 oil ships to iran
Last Updated : GMT 17:18:14
Arab Today, arab today
Arab Today, arab today

China to start delivering 12 oil ships to Iran

Arab Today, arab today

Arab Today, arab today China to start delivering 12 oil ships to Iran

Tehran - FNA

Another seven very large crude carriers (VLCCs) are scheduled for delivery by the end of this year from two Chinese shipyards, and the remaining four are expected to be commissioned by the end of 2013 in a total contract worth $1.2 billion, industry executives told Reuters. The new tankers would add much-needed capacity to NITC\'s fleet at a time when the number of maritime firms willing to transport Iranian crude might lower due to tighter western sanctions. This has forced Asian oil buyers to rely more on Iranian-owned tankers. \"These new tankers now carry more weight in this sanction environment,\" said a Beijing-based oil executive with knowledge of these ships, adding that the first tanker with a capacity of 318,000 deadweight tons is named \"Safe\". A second executive, with direct knowledge of the delivery program, said the western sanctions have not impacted the shipbuilding contract with Iran as payments from NITC so far have been received without much problem, though the full payment was not due yet. The 12 new VLCCs, together capable of transporting 24 million barrels of crude, will significantly expand NITC\'s tanker fleet of 39 ships. The 12 vessels were commissioned at Waigaoqiao Shipbuilding Co. Ltd, a unit of China CSSC Holdings Ltd based in financial hub Shanghai, and Dalian Shipbuilding Industry Co. Ltd, based in Northeastern port Dalian. Each builder won an order for six vessels, with the total order financed mostly by China\'s Export and Import Bank, officials said, a policy bank that funds China\'s massive trade business and Chinese firms\' overseas investment. The Iranian firm has by now settled more than two-thirds of the $600 million bill with at least one of the two shipyards, said the second executive, who declined to be named due to the sensitiveness of the matter. NITC was privatized in 2000 and is now owned by three Iranian pension funds. It operates a fleet of 39 vessels including 25 VLCCs, one of the world\'s biggest crude oil transporters. Most of NITC\'s ships were built in South Korea and carry flags of Cyprus or Malta, according to the company website. (www.nitc-tankers.com/fleet.html). This is not the first time NITC has built crude carriers in China. Between 2002 and 2004, five VLCCs were commissioned in China\'s Dalian, the company posted on its website.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today china to start delivering 12 oil ships to iran Arab Today, arab today china to start delivering 12 oil ships to iran

 



Arab Today, arab today
Arab Today, arab today Jordan airline suggests flyers 'talk'

GMT 11:59 2017 Friday ,24 March

Jordan airline suggests flyers 'talk'
Arab Today, arab today 5 Crafty Must-Have Limited-Budget Ideas

GMT 17:03 2017 Saturday ,25 March

5 Crafty Must-Have Limited-Budget Ideas
Arab Today, arab today Dozens dead in US-led Syria strikes

GMT 08:35 2017 Thursday ,23 March

Dozens dead in US-led Syria strikes
Arab Today, arab today Former head of Egypt’s syndicate submits appeal

GMT 20:11 2017 Saturday ,25 March

Former head of Egypt’s syndicate submits appeal
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Yemen children dream of school

GMT 07:25 2017 Friday ,24 March

Yemen children dream of school
Arab Today, arab today MP submits a petition to dismiss university head

GMT 06:21 2017 Friday ,24 March

MP submits a petition to dismiss university head
Arab Today, arab today Salvage of South Korea's Sewol ferry

GMT 04:51 2017 Friday ,24 March

Salvage of South Korea's Sewol ferry
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Audi RS 5 Coupe acquires new design

GMT 13:22 2017 Thursday ,23 March

Audi RS 5 Coupe acquires new design
Arab Today, arab today Renault Trezor wins design award

GMT 11:56 2017 Tuesday ,21 March

Renault Trezor wins design award
Arab Today, arab today Actress Mervat Amin reveals her role in new series
Arab Today, arab today 2017 already marked

GMT 15:25 2017 Tuesday ,21 March

2017 already marked

GMT 06:04 2017 Thursday ,23 March

Haifa Wahby bets on her new drama show

GMT 22:00 2017 Thursday ,23 March

Number of unwedded girls amounts to 2.5m

GMT 18:57 2017 Tuesday ,21 March

Accessories designer reveals her new collection

GMT 10:34 2017 Tuesday ,21 March

Mexico threatens to ditch US corn imports

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures

GMT 20:03 2017 Saturday ,25 March

Health expert warns from dust sensitivity

GMT 07:36 2017 Wednesday ,22 March

US, Britain ban laptops on flights

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 19:27 2017 Saturday ,11 March

Boualsof launches "Priestess Kahina" collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday