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All foreign containers stop shipping Iranian oil derivatives

Business Materials 13 June 2013 12:38 (UTC +04:00)

Azerbaijan, Baku, Jun.13/ Trend, D.Khatinoglu/

All foreign container shippers have cut providing services to Iran and freight Iran's petroleum production goods, the deputy head of Iran's Industry and Mining Chamber of Commerce Pedram Soltani said, IRNA reported.

Soltani, who heads the Association of Oil Derivatives Producers, said that Iran's export of oil derivatives has decreased significantly, but didn't mention a concrete number.

However, according to Iran Custom Administration statistics, country's petrochemical product export has decreased from $15 billion to $10 billion during last solar year, compared to previous year (Iran's solar year starts on March 20).

According to Soltani, transporting the oil derivatives has been carried out by domestic shipping companies.

He went on to say that the Western sanctions created additional challenges for Iran, raising costs and expenses of shipping.

Soltani said that delaying loads lead to blocking of assets, canceling the deals and incurring losses.

The U.S. National Defense Authorization Act, which comes into effect on July 1, 2012, blacklists Iran's shipping, shipbuilding, energy and port management sectors.

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