VOL. XXXI

NO. 9

7-DECEMBER-1987

IRAN

Iran Boosts Tanker Fleet for Storage and Trading Purposes

Over the past month Iran has substantially boosted its tanker fleet throughextensive time and spot chartering for both trading and storage purposes.

During November, in addition to spot chartering some nine ULCC/VLCC vesselsfor westbound crude deliveries at rates ranging between WS 40 and WS 47.5,NIOC's tanker subsidiary NITC has fixed six-month timecharters at about $12,800-$13,000 per day for four...