Tag: Iran

A South Korean ship classification society on Thursday sidestepped calls from a U.S. lobby group to halt its verification work in Iran, saying it was concerned that vessel safety and marine environment protection could be compromised by political issues.

Bill aims to stop oil tankers from shipping crude to countries that support sanctions against it Iran's National Security and Foreign Policy Committee has drafted a bill calling for Iran to try to stop oil tankers from shipping crude through the Strait of Hormuz to countries that support sanctions against it, a committee member said on Monday."There is a bill prepared in the National Security and Foreign Policy committee of Parliament that stresses the blocking of oil tanker traffic carrying oil to countries that have sanctioned Iran," Iranian MP Ibrahim Agha-Mohammadi was quoted by Iran's parliamentary news agency as saying."This bill has been developed as an answer to the European Union's oil sanctions against the Islamic Republic of Iran."Agha-Mohammadi said that 100 of Tehran's 290 members of parliament had signed the bill as of Sunday.Iranian threats to block the waterway through which about 17 million barrels a day sailed in 2011 have grown in the past year as U.S. and European sanctions aimed at starving Tehran of funds for its nuclear program have tightened.A heavy western naval presence in the Gulf and surrounding area is a big impediment to any attempt to block the vital shipping route through which sails ...

The Zanzibar government confirmed it had registered 11 oil tanker companies which were formerly registered in Malta and Cyprus and accused the media of misleading the public.Earlier this week some newspapers, including The Citizen, published reports that an Iranian oil tanker company had renamed at least 10 of its vessels and replaced their flags with Tanzanian ones, news that sent shockwaves through the country's leadership.A statement read by Zanzibar minister for Infrastructure and Communication Hamad Masoud Hamad yesterday to the House of Representatives said owners of the eleven companies were nationals of British Virgin Islands and Seychelles.He named the ships as Daisy with a gross register tonnage (GRT) of 81479 registered in Malta, Justice (GRT 164241) registered in Cyprus, Magnolia (GRT 81479) also formerly registered in Malta.Other ships are Courage (GRT 163660) owned by Courage Shipping Co. Ltd, Freedom (GRT 163660) also owned by Freedom shipping Co. Ltd, Valor (GRT 160930) owned by Valor Shipping Co. Ltd and Leadership (GRT 164241) owned by Leadership Shipping Co. Ltd. All these were formerly registered in Cyprus.Mr Hamad also named Companion (GRT 164241) owned by Companion Shipping Co. Ltd, Camellia (GRT 81479) owned by Camellia Shipping Co. Ltd, Clove (GRT 81479) owned by ...

EU oil sanctions kick in on Sunday A South Korean ship classification society faces pressure from a U.S. lobby group to stop verifying safety and environmental standards for Iran's biggest shipping companies as tightening U.S. and European sanctions restrict its oil exports.Without verification from such bodies, ships are unable to call at international ports.U.S. group United Against Nuclear Iran (UANI), in a letter sent this week to the Korean Register of Shipping (KR), urged the society to stop providing classification and certification services to the Islamic Republic of Iran Shipping Lines (IRISL), its front companies and the National Iranian Tanker Company (NITC)."KR's irresponsible decision to provide certification services at a time when responsible businesses are leaving Iran undermines the efforts of the international community to isolate the Iranian regime," Mark Wallace, UANI's chief executive and a former U.S. ambassador wrote in the letter dated June 25.A targeted campaign by UANI, which includes former U.S. ambassadors on its board and is funded by private donations, had led Germany's Germanischer Lloyd and France's Bureau Veritas to drop their classification cover for Iranian shipping firms."It is not simply a question of KR violating relevant sanctions provisions, but of following a responsible course of ...

On Tuesday, United Against Nuclear Iran (UANI) called on the Korean Register of Shipping (KRS) to stop certifying Iranian shipping vessels, specifically those of the Islamic Republic of Iran Shipping Lines (IRISL) and National Iranian Tanker Company (NITC)."the world must deny Iran's access to international shipping, a move that would severely affect the regime given its dependence on global trade and seaborne crude oil exports."As the Wall Street Journal reported on June 25, KRS is one of the only classification societies in the world that continues to provide Iranian vessels with safety certificates. The prominent European shipping services Bureau Veritas and Germanischer Lloyd recently stopped certifying Iranian vessels in response to UANI.In a June 25 letter to Oh Kong-gyun, KRS Chairman & CEO, UANI CEO, Ambassador Mark D. Wallace, explained how KRS's activities help Iran circumvent multilateral sanctions, and violate sanctions imposed by the Republic of Korea:KRS's irresponsible decision to provide certification services at a time when responsible businesses are leaving Iran undermines the efforts of the international community to isolate the Iranian regime and directly aids IRISL's deceptive and illegal activities.As you are no doubt aware, in September 2010, the ROK government joined with the U.S. and the EU ...

South Korea became the first major Asian consumer to announce a halt to Iran South Korea became the first major Asian consumer of Iranian crude to announce a halt to imports after the government said they would be suspended from July 1 due to a European Union ban on insuring tankers carrying Iranian oil.The insurance ban makes it almost impossible to ship Iranian oil as most insurance is undertaken by EU-based companies and the move comes as part of a series of measures designed to put pressure on Iran to halt what the United States and others say is a nuclear weapons program.South Korea depends on the United States for security, but it has no natural resources and has been scrambling for alternative crude supplies to replace those from a country that supplied 9.4 percent of its needs in 2011.The world's fourth largest buyer of Iranian crude said it has no plan to provide state guarantee like Japan to continue its imports. Another two major Asian buyers, China and India, will allow Iran to deliver the crude from July."South Korea's imports of Iranian oil will be suspended, as the EU will suspend crude imports from Iran and also halt its ...

Contracts for importing Iranian oil that were concluded before 23 January to be terminated The latest package of EU sanctions against Iran will apply as earlier decided.Following a review of the measures, the Council confirmed that they would remain as approved in January.This means that two exemptions will end, as scheduled, on 1 July:Contracts for importing Iranian oil that were concluded before 23 January will have to be terminated by 1 July.From the same date, EU insurers may no more provide third-party liability andenvironmental liability insurance for the transport of Iranian oil.This latest package of sanctions against Iran was adopted in January 2012 and targets the Iranian nuclear programme and its sources of finance. The measures were taken in relation to the EU's serious concerns over Iran's nuclear programme.The objective of the EU remains to achieve a comprehensive, long-term settlement on the basis of meaningful negotiations between the E3+3 and Iran.Source: EUROPA

Changing the flags of many of its oil tankers Iran has given new English names and changed the flags of many of its oil tankers, two of which are steaming towards Europe with a European Union ban on Iranian oil imports just a week away, ship tracking data shows.The Haraz is now Freedom, Nesa has transformed into Truth, and Sima has become Blossom. At least a third of oil tanker operator National Iranian Tanker Company's (NITC) ships have registered with the pacific atolls of Tuvalu and also Tanzania after dropping their Maltese and Cypriot flags.NITC is not subject to UN sanctions, but with Malta and Cyprus coming under increased EU pressure to stop flagging Iranian government-linked ships, NITC has hoisted flags from Tuvalu on at least 11 of its 39 oil tankers, while Tanzanian flags fly above at least two.Merchant ships need a flag from national ship registries to gain access to most of the world's ports. According to ship tracking data on Reuters, two of the tankers, now called Pioneer and Elite, were heading through the Red Sea towards Europe on Sunday, where a ban on buying Iranian oil comes into effect on July 1.NITC declined to commentUN-sanctioned sister ...

From July, EU based insurance firms will no longer be able to insure any ship carrying Iranian oil In ten days on July 1st a sweeping European Union ban on Iranian imports will go into effect in response to the Islamic Republic's burgeoning nuclear program. In addition, and just as importantly, EU based insurance firms will no longer be able to insure any ship carrying Iranian oil.Iran is OPEC's second biggest oil producer behind Saudi Arabia. Oil analysts at Citigroup expect that Iran will still be sending out 1.25 million barrels a day, about half of last year's production.Brent crude is currently trading in the $95 dollar a barrel range , that's down eleven percent year to date. Light sweet is in the $83 dollar a barrel range, down 15% year to date.Ray Carbone is President of Paramount Options. He believes we'll see an upward trend before the July 1st deadline but it's unclear how high oil could go. Carbone says "it depends to a large degree on how much of Iran's share of oil OPEC is willing to pump out and that's still a question mark."Despite the EU ban several countries will still be importing Iranian oil. On the ...

Plans to build more warships and increase its presence i The Iranian navy has announced plans to build more warships and increase its presence in international waters.Navy commander Rear Admiral Habibollah Sayyari said the deployments would protect Iranian cargo ships around the world, in particular in the Gulf of Aden and the northern part of the Indian Ocean, according to state news agency Irna.The navy wanted to guard Iranian ships from Somali pirates, the report said.State-owned Press TV quoted Sayyari as saying: "Our presence in international waters is aimed at safeguarding the interests of the Islamic Republic and strengthening military power to defend Iran." "So we will multiply our efforts to enhance our military might and have a presence in international waters," he said.The navy's deputy chief for technical affairs said the force planned to build 10 more vessels, including destroyers and missile-launching frigates, Press TV said.Work on building the ships would start after construction of "Velayat" a Mowj-2 class destroyer is completed. That is due at the end of the Iranian calendar year next March.Iranian military officials often assert their military strength in the region, particularly in the Strait of Hormuz, the world's most important oil transit channel carrying ...