After a five year hiatus on entering Iranian ports, Maersk Line have announced they will be resuming their calls to the country, reported JOC.com.
Mediterranean Shipping Co. announced its return to Iran in late 2015 and in the midst of the shipping crisis a new market could both benefit the indebted carrier and the trade starved Middle Eastern nation.
Shippers are struggling with oversupply in the current market, and with younger and younger vessels being scrapped every year the opening of Iranian ports could be a saviour.
Christian Juul-Nyholm, Managing Director of the United Arab Emirates branch of Maersk Line, said: “Global container trade has matured over the past years and is growing at a slower pace. Iran has the potential to be the market which stands out with faster growth”
The avoidance of Iranian ports began during the implementation of sanctions against Iran due to the international community’s disapproval of its development of weapons of mass destruction and its alliances in the region; the sanctions were lifted this year.
Ali bin Masud Al Sunaidy, Minister of Commerce and Industry for Oman and Jasem Jaderi, Governor General of Iran’s Hormozgan province, announced the inauguration of new direct shipping routes from two Omani ports to the Port of Shahid Bahonar in Iran following the lift on sanctions.