“After signing a contract the floating oil will head towards its destination for delivery, so keeping oil in floating vessels for a few weeks does not mean storing them,” he said.
On providing insurance coverage for oil tankers after lifting sanctions, he said insurance is a very important issue for the industry adding domestic companies have provided adequate insurance coverage so that the company faces no problems at present.
Referring to the achievements of annual maritime conferences, he said: "Over the past 23 years, the capacity of IOTC’s fleet has grown from 6 million tons to 23 million tons and ports’ capacity from 60 million to more than 180 million tons."
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