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Iran Oil Tankers Renamed as NITC Adopts Tanzania’s Flag

NITC, an oil-tanker company owned by Iranian pension funds, renamed at least 10 of its vessels and switched them to a Tanzanian flag amid increasing curbs on transactions with the Persian Gulf nation.

NITC renamed five very large crude carriers, each holding about 2 million barrels of oil, and five Suezmaxes, hauling 1 million barrels, according to the Equasis shipping database maintained by the European Commission. Ownership was switched from NITC to new companies operating from the same address in Tehran and NITC remains the operator, the data show. All the ships were previously registered in Malta or Cyprus.