Iran Shipping Lines Head Sees Business Rebound by Mid-17

Container shipper Islamic Republic of Iran Shipping Lines (IRISL) Chairman Mohammad Saeidi expects the firm to have recuperated by the middle of next year the business lost while Iran was subject to international sanctions.

 

"Step by step the problems have been resolved, removing many restrictions and limitations," since the sanctions were lifted, he told Reuters in an interview at a shipping conference in Copenhagen.

 

"I think at the maximum in mid-2017 the whole thing would be in the normal manner (of) things."

 

He added that he hoped to see remaining limitations on dollar transactions removed after the U.S. presidential election, and that IRISL was negotiating with shipyards and manufacturers on the possible purchase of new vessels.