IRISL eyes London listing

IRISL eyes London listing

Islamic Republic of Iran Shipping Lines (IRISL) is eyeing a listing on the London Stock Exchange to help push through its dramatic fleet expansion plans, according to Reuters. IRISL officials have been in the British capital recently to discuss a possible IPO.

After years of sanctions IRISL’s fleet has faded. Its 26 ships afloat today are old and worth little.

However, in December it ordered 10 new ships at Hyundai Heavy Industries for an estimated $626m and has plans to order plenty more in the coming months.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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