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All Sanctions Lifted on Iran’s National Maritime Fleet

All Sanctions Lifted on Iran’s National Maritime Fleet

Sunday، 21 May 2017 | Article Rating
MRUD News – The CEO of IRISL has announced the lifting of all sanctions on Iran’s national shipping fleet and the improvement of this company’s standing in the global shipping companies’ rankings by 4 positions.

According to Mohammad Saeedi, Iran’s placement in the global shipping rankings has improved from 23 to 19 following initiatives to restore IRISL’s previous position. However, some difficulties still exist with regards to banking procedures, which are going to be eased within the next 5 or 6 months.
Referring to the goals set for improving Iran’s position in the next five years, Saeedi added that the contract for the purchase of container ships from the South Korean company, Hyundai, has been put into effect.
A previously suspended contract between Iran and S-Korea was finally turned into a contract jointly financed by S-Korea (80% financing) and Iran (20%), after one year and three rounds of negotiations.
The contract is valued 670 million Euros for the purchase of 10 container ships in total. Four of these ships have a capacity of 14.500 TEU and the remaining 6 are MRT ships, used for freighting chemicals and petrochemicals.
The first of these container ships is to be delivered to Iran in March 2018; after that a ship is delivered each month.
The latest contract with Hyundai includes three areas of focus: technology transfer, including conceptual design and ship operations; feasibility studies for parts manufacturing inside Iran; as well as Hyundai’s required shipping and shipyards personnel training.

  • All Sanctions Lifted on Iran’s National Maritime Fleet
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