IRISL Strengthens Foothold in Caspian Markets
- Business & Finance
Islamic Republic of Iran Shipping Lines (IRISL) is about to launch a shipping line in the Caspian Sea aimed at boosting competitiveness of its exporters in Caspian markets.
The Head of Trade Promotion Organization of Iran (TPOI) Valiollah Afkhami inked a memorandum of understanding (MOU) on Friday with IRISL for launching of the regular shipping line, Iranian news agency IRNA reports.
Afkhami said that the initiative was born out of the need to create a shipping line with regular voyages to the Caspian Sea ports with a larger capacity for transporting goods having in mind that the existing shipping lines lack both the frequency and capability.
As announced by Chairman and Managing Director of IRSIL, Mohammad Hossein Dajmar, the shipping line will boast a transporting capability ranging between 18,000 to 36,000 tons of goods per week.
The service will include six sailings a month from Iranian ports to ports in Russia and Kazakhstan.
The move comes amid increased trade exchange between Iran and Central Asia as Iran pursued alternative markets following sanctions imposed by the EU and the US.
World Maritime News Staff