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Iran fights oil sanctions with supervessels

Chinese shipyards are to deliver 12 supertankers to Iran, with the final vessel ready by the end of 2013. These could help alleviate logistical difficulties caused by US and European sanctions against Iranian oil exports.

The first of the very large crude carriers (VLCCs) built for Iranian oil shipping operator NITC is expected to arrive in May, reports Reuters, citing industry executives. Seven more are to be delivered over the year, with the remaining four to be commissioned by the end of 2013. Two shipyards are building the supertankers under contracts worth $1.2 billion.