TanzaniaAugust 2012 | Risk Summary
POLITICAL RISK – Ships Deregistered The Tanzanian government has deregistered 36 Iranian oil tankers and container vessels after facing harsh criticism from the US Congress Committee on Foreign Affairs. The vessels, flagged to the Tanzanian Shipping Register, were deregistered in order to adhere to sanctions imposed by the US and the EU on Iran for its nuclear development programme. By sailing under the Tanzanian flag, the vessels avoided sanctions and were eligible to receive indemnity cover. The authorities claim they were unaware that shipping agent Philtex had registered Iranian ships under the Tanzanian flag and has said that they will end their agency contract with the Dubai-based firm.
To read the full article, please choose one of the following options: