Baku, Azerbaijan, Feb. 15
By Fatih Karimov - Trend:
The Islamic Republic of Iran Shipping Lines (IRISL) and German PWL company signed a Memorandum of Understanding (MoU) for mutual cooperation.
A joint-venture shipping company will be formed under the document which was signed during the visit of Mohammad Saeedi, head of IRISL to Hamburg, Germany, Iran's MANA news agency reported Feb. 15.
Based on the MoU, a variety of representative services will be offered to IRISL and its subsidiaries' fleets in ports of North European countries, including Germany, the Netherlands, and Belgium.
The joint shipping company is scheduled to start its operation from March 2016.
Last month the IRISL was removed from the US list of companies designated for sanctions and assets freeze, as the nuclear deal between Iran and the six world powers came into force.
International shipping lines are already stepping up port calls to Iran as the country's massive maritime trade sector is emerging from the sanctions.