The Islamic Republic of Iran Shipping Line (IRISL) has penned a Memorandum of Understanding with Singapore-based counterpart Pacific International Lines (PIL), Iran’s Mehr News Agency reports.
Under the MoU, the two countries laid the groundwork for collaboration in the field of maritime transport, including through establishment of feeder lines in South East Asia, Southern Asia, the Middle East, the Black Sea and other regions, along with cooperation in ship construction and technology transfer.
The deal is also likely to result in the duo developing a major tanker service for transporting oil products and petrochemicals from East Asia to West Africa.
IRISL is yet to reply to request for comment sent by World Maritime News.
The deal was signed on March 2nd during a three-day visit from Singapore’s Trade and Industry Minister S. Iswaran to Tehran.
World Maritime News Staff