29 Mar 2024
Wednesday 5 August 2015 - 15:34
Story Code : 174867

German, Italian port operators ink Iran deal

German, Italian port operators ink Iran deal
Contship Italia and Germanys Eurogate have signed an MoU with Irans biggest port company Sina Port and Marine to resume trade after lifting of sanctions on the Islamic Republic.

The memorandum covers exchange of experience and know-how and development of Irans logistics sector and its ports, a European media report said.

In a statement, Contship said the MoU represents a great opportunity and milestone for the involved countries in this historical period marked by a new level of economic cooperation and political relationships.

Contship Italia is Italys largest container terminal operator. Eurogate is Germanys leading port operator with a 33% stake in Contship Italia. Sina Port and Marine operates Irans major ports of Bandar Abbas and Bushehr.

International shipping lines are already stepping up port calls at Iranian ports as the countrys massive maritime trade sector is emerging from the sanctions.

Last month, the Islamic Republic of Iran Shipping Lines and the countrys leading ports operator, the Tidewater Middle East Maritime Company, were removed from the US list of companies designated for sanctions and assets freeze.

CEO of the Mediterranean Shipping Co. (MSC) Diego Aponte and chairman of Duai-based DP World container terminal operator Sultan bin Sulayem have recently visited Iran.

MSC is the worlds second-largest ocean carrier. The worlds largest carrier and MSCs partner, Maersk Line, has also said its sees great potential in Iran for trade.

Hyundai Merchant Marine, Hanjin Shipping and Yang Ming have already started to serve Bandar Abbas, with French carrier CMA CGM expected to call at the countrys largest port on Thursday with an 11,356 twenty-foot-equivalent unit capacity ship.

Intensified US and European sanctions on Irans shipping have impaired commercial maritime traffic, curbing otherwise legal trade.

By Press TV
https://theiranproject.com/vdcce0qsm2bqm48.-ya2.html
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