ShippingWatch

How the Iranian nuclear accord opens doors for shipping

Oil and shipping companies are glimpsing opportunities after the accord Tuesday for Iran's nuclear program and the prospect of the sanctions against the country being lifted. Read here, what significance the accord with the oil country could entail.

Tuesday's accord regarding Iran's nuclear program has got several players in the market catching a whiff of big possibilities, for when the country once again begins to send oil onto the global market. Danish carriers are expecting business for millions, while Iran's own national oil company is also looking forward to being let back into the European markets.

The question is how fast the country, which is sitting on 10 percent of the world's oil deposits, can open the floodgates. And in this case, how it will affect the oil market which is already weakened by an oversupply of oil and not least struggling with prices compared to the past.

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