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NITC undertakes rebranding exercise

NITC undertakes rebranding exercise

Tehran: Independent tanker operator NITC has today officially unveiled a new corporate logo and website designed to present a more modern image of the group, in keeping with its tanker fleet which is one of the youngest in the industry.

Chairman and managing director Mohammad Souri commented: "Our new corporate logo is also intended to reinforce the group's brand, NITC, in its own right, and not as the abbreviation of an earlier name" - a reference to the company's original monicker of National Iranian Tanker Company, use of which has been progressively dropped since the company was privatised in 2000 with three pension funds taking over the shareholding.  

"Such rebranding is a common practice in international business - for example, BP, ABS, AET etc,"  added Souri. "Today, the NITC brand represents the group's four core values, which are its commitment to:
o Needs of global oil major clients
o Integrity of technical operations
o Total respect for the environment
o Continuous education and welfare of seafarers."

The company has also launched a new website,, which it says it has done in the interests of "greater transparency" and to try stem a recent spate of often "inaccurate and misleading" press reports about the company.

NITC takes the opportunity to point out that its international fleet of 42 double-hull tankers totalling over 10.5m dwt carry cargoes exclusively of crude oil for more than 150 clients worldwide, and that its business remains unaffected by any current or impending sanctions pertaining to Iran. Latest sanctions concern only the import of refined petroleum products into Iran or technology transfer relating to the oil and gas industry, activities in which it is NOT involved, it stresses.     

"Given the political situation it is unhelpful to have any speculation about our company circulating in the marketplace, and we hope this (new) website will help provide our business partners and others with all the factual information they need," said Souri.  [15/07/10]