Tidewater Middle East Co News

The first international container ships began arriving in Iran this week after the nuclear deal between Tehran and world powers, yet many ship owners remain wary of resuming business until sanctions are removed - still some months away. Iran had depended on foreign ships for much of its imports, but has relied more on land routes and its own commercial fleet, particularly since 2012, as layers of sanctions led to an exodus of Western shipping firms, leading to supply disruptions. In one of the first signs of change, the world's third largest container shipping group, France's CMA CGM, said on Monday it would restart services to Iran in early August.

Germany and Iran seeks to develop economic relations in the field of maritime trade and ports for increasing the trade volume between the two countries, reports PressTV. German Ambassador to Tehran Michael Baron von Ungern was quoted by Fars news agency as saying that increased cooperation between the two countries’ ports will certainly boost the volume of trade between Tehran and Berlin. Germany is a major trade partner for Iran and both sides are willing to develop maritime cooperation between Iran’s Rajaei port and German’s Hormozgan port that are going to be key players in this trade deal. The Rajaei port conforms to international standards and infrastructures for the exchange of goods between two countries.

Tidewater Inc. announced that it is not affiliated with Tidewater Middle East Co. (or any of its affiliates) of Iran, which were the target of new U.S. Government sanctions announced jointly by the U.S. Treasury Department and the U.S. Department of State. The Treasury Department, in announcing the new sanctions on June 23, noted in its press release “Fact Sheet” that “The entity being designated today, Tidewater Middle East Co., is separate and distinct from Tidewater Inc., an international shipping company headquartered in the United States and listed on the New York Stock Exchange as TDW.