Iran's IRISL shipping company earning more than two-fold with active sanctions
Azerbaijan, Baku, Oct. 22 /Trend, N. Umid, S. Isayev
With sanctions on Iran's still active, Islamic Republic of Iran Shipping Lines is earning more than two-fold, having no competition, Mehr News Agency reported.
For transporting, IRISL offers $135 to $140 for each ton of goods, while other international shipping companies' price was between $50-$60, before the sanctions were imposed on Iran.
International shipping companies left Iran after the new round of the U.S. sanctions came into effect on July 1, and the IRISL went on to do business without any rivals, in particular to the Asian ports.
According to the report, Iranian traders are also not happy with transportation delays on the part of IRISL. Reportedly, the delays have cost the traders some additional money.
It is while, IRISL Managing Director Mohammad Hussein Dajmar stated that, Iranian shipping lines did not increase container tracking prices since August, claiming the prices depend on market conditions and are not stable.
IRISL comprises 115 ocean-going vessels with the total capacity of 3.3 million tons of deadweight (DWT).
The ownership structure of the fleet comprises 87 ocean-going vessels in IRISL and 28 different types of ships under the flag of subsidiaries, including Khazar Shipping, Valfajr as well as Iran-India Shipping Companies.
The first series of sanctions against IRISL were implemented in September 2008.
On September 17, 2013, the European court made a decision to lift the EU sanctions against Iranian leading shipping company IRISL.
After the announced decision, some Iranian officials expressed joy and hope regarding the court's decision.
IRIB quoted Iran's Ports and Maritime Organization director Ataollah Sadr as saying shipments to Iran will increase as sanctions against the country's shipping line have been annulled.
It is while, some experts believe that despite the lift of sanctions, transporting goods to Iran would continue to face problems.