Greek VLCC and suezmax owner Okeanis Eco Tankers believes tanker fleet growth could go into reverse if western sanctions against Iran’s nuclear programme are lifted.

With talks continuing, the Oslo-listed company’s chief operating officer Aristidis Alafouzos told a conference call that the situation may be “very bullish” for a resurgent crude shipping sector.

“The optimism around an Iran deal and uncertainty around Ukraine-Russia has strengthened sentiment for owners,” he said.