Economy, Domestic Economy

Shipping Companies Back in Iran

Shipping Companies Back in IranShipping Companies Back in Iran

The deputy minister for roads and urban development said four international shipping companies have announced that they will readily send their ships to Shahid Rajaee Port after removal of sanctions against the National Iranian Tanker Company (NITC), reported Fars News Agency. Immediately after UK’s Treasury lifted sanctions against several Iranian companies, four major international shipping companies, including Hyundai, Hanjin, Cosco, and Wan Hai said they were willing to resume deployment of their freight liners to the southern Iranian port. Some western countries had put an embargo on Iran’s ship insurance provision, which had banned international insurance providers from cooperating with Iran’s shipping industry. Iran’s maritime transportation has benefited from a landmark interim nuclear deal reached between Iran and P5+1 last November.