Iran not worried about foreign shipping, liner companies leaving ports

Iran not worried about foreign shipping, liner companies leaving ports
8/06/2018 https://www.hellenicshippingnews.com/iran-not-worried-about-foreign-ship...

The Iranian government is not concerned about foreign shipping and liner companies’ potential cease of operations at Iran’s ports due to the threat of new US sanctions, the managing director of Iran Ports and Maritime Organization said.

“The shipping and liner companies that want to leave Iran’s port (over US sanctions) hold a small share in the country’s shipping sector,” Mohammad Rastad said on June 27, Mehr news agency reported.

Rastad further said Iran’s shipping industry is an attractive market for foreign investors and international operators where they can ship their cargoes to different parts of the world.

“Iranian northern ports witnessed a 30 to 70 percent growth in the current Iranian fiscal year (started March 21)”.

He added that the capacities of the country’s ports, except for Caspian port, is expected to rise from 6 million tons to 30 million tons in the near future.

Despite the statements from European and Asian leaders in support of Iran, it seems that the US economic weight is too great to ignore. Businesses of all types, ranging from insurance companies to car manufacturers to shipping companies are now announcing that they will cease business with Iran or in Iran because of US sanctions.

Recently, the shipping company A.P. Moller-Maersk announced it would not longer ship Iranian oil due to the US sanctions. In a statement by the CEO, the company was clear that it prioritized its business with the US over business in Iran. It was not clear exactly when Maersk would cease all operations involving Iranian oil.

In a speech from the White House on May 8, US President Donald Trump pulled his country out of the nuclear deal, which was achieved in Vienna in 2015 after around two years of negotiations.
Source: Trend