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Iran’s shipping ranks 19th in world TEU

Business Materials 16 October 2016 12:31 (UTC +04:00)

Tehran, Iran, October 16

By Mehdi Sepahvand –- Trend:

Iran’s shipping (IRISL) has ranked 19th in the world for greatest shipped volume, Clarkson Research reported in its latest release.

Iran repeated the ranking for the second month in row by registering 92,674 TEU (twenty-foot equivalent unit) shipping, IRNA news agency reported October 16.

Iran ranked 23rd last year. The improvement is seen as one result of the removal of sanctions on Iran. Iran has the biggest shipping fleet in the Middle East.

Iran’s shipping capacity was 6-6.5 million GT before sanctions were imposed, to reduce to 1.5 million GT during the sanctions period.

A set of UN sanctions had formerly restricted the operation of any ship that was owned, managed, or controlled by an Iranian entity. The sanctions were intensified later as the US and EU each added their own versions.

The sanctions were lifted in January following Iran’s historic nuclear deal with the world powers.

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