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The world's largest supertanker fleet is poised to make serious moves

iran oil tanker
iran oil tanker

(Reuters/Tim Chong ) Iran has the fourth-largest oil reserves in the world.

Iran's largest oil-shipping company, NITC, has reportedly "amassed the world's largest fleet of supertankers," according to The Wall Street Journal.

The company reportedly has 42 VLCCs — or "very large crude carriers."

"No other company in the world owns that number of VLCCs," Capt. Nasrollah Sardashti, NITC's commercial director, told The Journal.

Furthermore, if the Iranian nuclear deal passes, NITC wants to play nice with Europe again after US and European sanctions cut Tehran's exports in half since 2012.

"Ali Akbar Safaei, the managing director of the NITC, said in an interview that the company is in talks with insurance companies that are part of London's International Group of P&I Clubs — a form of oil-shipping insurance coverage that pools insurers' resources to cover high risks — as the company seeks to speed up its return to Europe," according to The Journal.

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"All conditions are there to call at European ports" after sanctions are lifted, Safaei told The Journal.

kerry lavrov iran tlaks
kerry lavrov iran tlaks

(REUTERS/Carlos Barria) US Secretary of State John Kerry, center, with British foreign secretary Philip Hammond, second from right, and Russian Foreign Minister Sergey Lavrov, right, and foreign ministers from China, Germany, and France at a hotel in Vienna on Monday.

The official deadline for a nuclear deal is Tuesday, though the White House wants a deal by Thursday at the latest.

There are still hurdles to a permanent agreement, however.

On Sunday, Secretary of State John Kerry dampened the mood, noting that despite progress, "we are not yet where we need to be on several of the most difficult issues."

"We're not going to shave anywhere at the margins in order to get an agreement," he added. "This is something that the world will analyze, experts everywhere will look at. None of us are going to be content to do something that can't pass scrutiny."

To get all the details on the supertankers, head to The Wall Street Journal >

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