UK, Swedish firms in talks to insure Iranian vessels
TEHRAN, Iran, October 12, 2015
Major British and Swedish insurance companies have been shortlisted from an increasing number of foreign applicants to insure Iranian tankers, according to a report.
The companies once had extensive cooperation with the National Iranian Tanker Company (NITC), said the Iran Daily report.
The selection follows numerous qualified international firms approaching NITC to negotiate terms of insurance policies, after the international political opening, NITC's director of commer Nasrollah Sardashti, was quoted as saying.
NITC transports Iranian crude to export markets and is also responsible for the distribution of oil products to Iranian ports and island ports in the Persian Gulf, said the report.
The company, which has the largest tanker fleet in the Middle East, also acts as an independent entity in contracts with foreign concerns for crude oil transportation based on prevailing international freight rates, it added.
