Economy

Po_d Mainiac

(4,183 posts)

58. Having crude is one thing. Being able to get it to markets is another.

Mon Oct 1, 2012, 01:22 PM

Oct 2012

One item that hasn't made the rounds is the fact that Iran's shipping fleet (Public and Private) can no longer provide proof of insurance. That little problem keeps their ships out of most major ports and territorial waterways. This is on a global scale. In udder words, the sanctions are choking off their life blood

The Korean Register of Shipping has become the latest and last remaining major classification society that has promised to stop certifying Iranian ships, specifically those of the Islamic Republic of Iran Shipping Lines (IRISL) and National Iranian Tanker Company (NITC), in response to Western sanctions and pressure from groups like the U.S.-based United Against Nuclear Iran (UANI).

<snip>

The Korean Register of Shipping is the last of the 13 members of the International Association of Classification Societies that has vowed to halt work in Iran, joining the likes of Bureau Veritas, Germanischer Lloyd, Lloyd’s Register, ClassNK, and even the Russian Maritime Register of Shipping, among others.
more at link

http://gcaptain.com/least-korean-register-shipping/

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