Shipping Corporation of India (SCI) will resuscitate Irano Hind Shipping, its joint venture with Islamic Republic of Iran Shipping Lines (IRISL).
The 40-year-old line was shelved in 2012 on the back of sanctions against Iran. With these sanctions now lifted the two Asian lines are now looking to get the joint venture operating again. Ownership is split 49:51 in IRISL’s favour.
Indian prime minister Narendra Modi is pushing for greater trade ties with Iran – the two nations are collaborating also on a big new port development in Iran.