Speaking at the first specialized conference on bunkering in the Persian Gulf, Mohammad Saeednejad said good opportunities were grasped by rivals during the imposed war as well as sanction years; “we need to take advantage of the suitable time emerged as a result of JCPOA implementation in order to make advancements in the field.”
He highlighted that sanction-related restrictions have been alleviated adding “conditions have improved significantly in the insurance sector, rating agencies as well as for arrival of giant oil tankers though a number banking issues are still persisting.”
Managing Director of Iran's Ports and Maritime Organization (PMO) went on to note that satisfactory resolutions have been achieved as regards LC opening through European banks even though the US have not remained fully committed to its obligations.
Saeednejad underscored that necessary procedures need to be followed in order to provide ground for presence of the private sector adding, substantial improvements have been made in the bunkering area as the amount has surged from 3.3 to 4.4 since implementation of the Joint Comprehensive Plan of Action (JCPOA).
He further emphasized the acute need for investment on the part of the private sector underlining “investment scales in the area of bunkering need a major change since small-scale activities would not be able to compete in the international arena.”
The official called for joint cooperation with international companies active in the field voicing PMO’s complete readiness to offer relevant support.
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