The UN team, escorted by army general Nasser al-Taheri, inspected the contents of the ship which Saba said includes surface-to-air missiles, Katyusha rockets, explosives, ammunition and surveillance systems.
The Yemeni coastguard, in coordination with the US navy, intercepted the Jihan II in the Arabia Sea and authorities have said the ship carried rockets and explosives that came from Iran. Tehran denies any involvement.
Earlier this month the UN envoy to Yemen, Jamal Benomar, said the Sanaa government had asked the UN's sanctions committee to investigate the contents of the ship and determine where it originated from and who it was destined for.
A 2007 UN resolution bans Iran from exporting arms.
A Yemeni security source has said the arms were destined for Shiite rebels who control the northern Saada province.