Executive Briefings

Chinese Yards Help Iran Build Its Merchant Marine Fleet

Iran's Islamic Republic of Iran Shipping Lines (IRISL) has announced plans to order new 18,000 TEU (Triple-E type) container vessels from Chinese yards, according to Iran's Press TV.

The orders could total to 600,000 TEU in all, plus new general cargo ships and bulkers. At present, IRISL has a fleet of 160 vessels.

The news gives more detail to reports earlier in the year that IRISL would look to modernize its fleet.

“We are facing a new situation with the West. There are lots of opportunities, especially for IRISL,” recently appointed chairman Mohammed Saeidi told media. “We have to develop and increase our facilities and ships.”

Current sanctions ban Iranian vessels from American and EU ports, but the lifting of the restrictions is expected early next year as Iran shows compliance with its recently negotiated nuclear accord.

Read Full Article

The orders could total to 600,000 TEU in all, plus new general cargo ships and bulkers. At present, IRISL has a fleet of 160 vessels.

The news gives more detail to reports earlier in the year that IRISL would look to modernize its fleet.

“We are facing a new situation with the West. There are lots of opportunities, especially for IRISL,” recently appointed chairman Mohammed Saeidi told media. “We have to develop and increase our facilities and ships.”

Current sanctions ban Iranian vessels from American and EU ports, but the lifting of the restrictions is expected early next year as Iran shows compliance with its recently negotiated nuclear accord.

Read Full Article