NITC to expand LNG fleet

The Teheran-based National Iranian Tanker Co (NITC) aims to become a global player in energy transportation and could order at least 30 LNG carriers by the end of the year. NITC will register the gas tankers outside Iran under financing agreements, to keep operating in the event of sanctions from its nuclear dispute with the West.

NITC is currently awaiting the delivery of 13 VLCCs of 315,000-318,000 DWT each, expected between the end of 2007 and early 2009. This will see their supertanker fleet size grow to 28.