Iran Tankers Gets P&I Club Coverage

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Iran

On August 16, Iran Shipping Line announced that nine Iranian ships, properties of the Islamic Republic of Iran Shipping Line (IRISL), received the coverage of Steamship Mutual International Group of P&I Clubs, and their names were placed in the club’s website, next to the other member shipping lines.

The IRISL Insurance Brokerage Director stated to the MANA reported that finally, after a long period of negotiations, 9 ships, property of Valfajr Shipping line, received the coverage of Mutual Steamship International Group of P&I Clubs since 31 July 2016.

Captain Mohammadreza Banaei added that under current circumstances, we could claim that once again, grounds have been paved for the International activities of IRISL.  Once again, ships could easily sail to each and every corner of the world and serve the international transportation society while flying Iran’s three-colored flag.

After the execution of Comprehensive Plan of Action (JCPOA), various meetings were held with Iranian and foreign parties, and it was decided that the risks of the ships in some grounds in two fields of “Hull-Machineries” and “Protection-Indemnity” be delegated to international insurances.

Banaei also noted that supporting Iranian insurance companies is a priority for IRISL.

“Talks are underway with the Central Insurance of Iran to make use of domestic insurers’ coverage as well,” he said.

Earlier, Seyyed Mohsen Qamsari, deputy for international affairs at the state-run National Iranian Oil Company, stressed that nine members of the 13-member P&I group have agreed to cover the insurance risk of Iranian tankers.

Iran has been using Kish P&I, backed in part by the government, for shipping insurance during the sanctions.

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Reference: IRISL, Financial Tribune

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