Executive Briefings

MSC Among Latest Western Companies to Resume Business With Iran

European shipping and offshore interests are pursuing business in Iran with news this week that MSC Mediterranean Shipping Company has resumed vessel operations to Iran, after services were suspended in 2012 in response to trade sanctions.

On Dec. 31, 2015, MSC's 9,400 TEU vessel MSC Domitille called at the southern Iran port of Shahid Rajei (Bandar Abbas), marking the beginning of regular calls for MSC and paving the way for resuming business with Iran.

Danish companies are eyeing a series of energy and shipping projects in Iran following a visit this week by the country's foreign minister, local news agencies and officials said.

The Mehr news agency also cited the Islamic Republic of Iran Shipping Lines (IRISL) as saying that Maersk Line, the world's largest container shipping company, would begin services to Iranian ports.

Denmark's Vestas, the world's largest wind turbine maker, said its representatives were present in Tehran and the company was looking into opportunities there but would not elaborate on any talks.

One early Danish mover on Iran was drug maker Novo Nordisk which said in September it would build a $78m manufacturing plant in the country, signaling what it called a "long-term commitment to Iran".

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On Dec. 31, 2015, MSC's 9,400 TEU vessel MSC Domitille called at the southern Iran port of Shahid Rajei (Bandar Abbas), marking the beginning of regular calls for MSC and paving the way for resuming business with Iran.

Danish companies are eyeing a series of energy and shipping projects in Iran following a visit this week by the country's foreign minister, local news agencies and officials said.

The Mehr news agency also cited the Islamic Republic of Iran Shipping Lines (IRISL) as saying that Maersk Line, the world's largest container shipping company, would begin services to Iranian ports.

Denmark's Vestas, the world's largest wind turbine maker, said its representatives were present in Tehran and the company was looking into opportunities there but would not elaborate on any talks.

One early Danish mover on Iran was drug maker Novo Nordisk which said in September it would build a $78m manufacturing plant in the country, signaling what it called a "long-term commitment to Iran".

Read Full Article