IRISL at Hyundai Heavy for slew of boxships and tankers

IRISL at Hyundai Heavy for slew of boxships and tankers

Greek brokers Intermodal are reporting that Islamic Republic of Iran Shipping Lines’ (IRISL) much telegraphed newbuild spree is underway.

The broker reports IRISL has signed contracts in South Korea with Hyundai Heavy Industries for four 14,400 teu containerships as well as six 50,000 dwt MR product tankers. No price has been given for the boxships, while the tankers are reported as going for $35m per unit. All the ships will deliver in 2018 and 2019.

In the wake of sanctions being lifted, IRISL along with fellow Iranian tanker firm NITC have toured yards in Asia readying a series of mammoth orders to rejuvenate their fleets.

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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