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Irano Hind Shipping to return

Photo of Sam Chambers Sam ChambersSeptember 2, 2016
1 76 Less than a minute

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.

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Photo of Sam Chambers Sam ChambersSeptember 2, 2016
1 76 Less than a minute
Photo of Sam Chambers

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.

Comments

  1. While its good that they have restarted their industries, this is simply not the ideal time to enter this market. Sluggish rates, razor thin margins, impending debt cost increases. This is going to be a long long play.

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