Iran to receive first Korean ship in 1 year

Business Materials 8 March 2017 13:10 (UTC +04:00)

Tehran, Iran, March 8

By Mehdi Sepahvand –- Trend:

Iran is going to receive the first of its ordered ships from Korea, a TEU 14500, in March, 2018, CEO of Islamic Republic of Iran Shipping Line (IRISL) Mohammad Saidi said.

He added that after the first ship is delivered, Iran will be receiving a new ship from the Korean company each month, Tasnim news agency reported March 8.

In December, 2016 it was reported that South Korean shipbuilder Hyundai Heavy Industries Co Ltd had received a $650 million order to build 10 ships for IRISL.

Under the deal, the Korean company will build container ships and tankers for Iran’s state-owned shipping company.

The deal was the first shipbuilding order by the Iranian firm since the lifting of international sanctions off Iran.