(Bloomberg) Isaac Arnsdorf - Overseas Shipholding Group, based in New York, said Feb. 10 that the 45 supertankers from seven owners in which its carriers trade will no longer go to Iran. Nova Tankers A/S and Frontline, with a combined 93 vessels, said Feb. 9 and 11 they won't ship Iranian crude. The EU embargo on Iranian oil includes ship insurance. About 95% of the tanker fleet is insured under rules governed by European law. "It's the insurance that's completed the ban on trading with Iran," said Per Mansson, the managing director of Norocean Stockholm AB, which handles tanker charters.
2012-02-14 00:00:00Full ArticleBACK Visit the Daily Alert Archive