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CMA CGM Becomes Latest Western Shipping Company to Strike Deal With Iranian Ocean Cargo Line

French firm CMA CGM, the world's third-largest container shipping operator, signed a significant cooperation agreement Thursday with Islamic Republic of Iran Shipping Lines (IRISL).

CMA CGM Becomes Latest Western Shipping Company to Strike Deal With Iranian Ocean Cargo Line

The move comes as many European companies - maritime and otherwise - seek to expand their business ties to the newly reopened Iranian market in the post-nuclear-sanctions era. The agreement, signed during a goodwill visit to Paris by Iranian President Hassan Rouhani, covers capacity sharing, joint route operations, and cooperation in using port terminals, the French government said.

CMA CGM and Evergreen of Taiwan were the first to restart direct service to Iran last August; MSC restarted port calls in late December, and United Arab Shipping Company resumed business with Iran in January. Maersk, the world's largest container shipping operator, has said that it is still examining service to Iran.

CMA CGM now operates three direct routes to Iran, linking the country to Africa, Asian and India. It also offers indirect services with transshipments via the United Arab Emirates.

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The move comes as many European companies - maritime and otherwise - seek to expand their business ties to the newly reopened Iranian market in the post-nuclear-sanctions era. The agreement, signed during a goodwill visit to Paris by Iranian President Hassan Rouhani, covers capacity sharing, joint route operations, and cooperation in using port terminals, the French government said.

CMA CGM and Evergreen of Taiwan were the first to restart direct service to Iran last August; MSC restarted port calls in late December, and United Arab Shipping Company resumed business with Iran in January. Maersk, the world's largest container shipping operator, has said that it is still examining service to Iran.

CMA CGM now operates three direct routes to Iran, linking the country to Africa, Asian and India. It also offers indirect services with transshipments via the United Arab Emirates.

Read Full Article

CMA CGM Becomes Latest Western Shipping Company to Strike Deal With Iranian Ocean Cargo Line