Articles

Japan to dispatch its own troops to Strait of Hormuz

Japan to dispatch its own troops to Strait of Hormuz

TEHRAN, Oct. 18 (MNA) – Japan will send its own self-defense troops to the Strait of Hormuz instead of joining the US-coalition to protect commercial vessels passing through key Middle Eastern waterways, the Asahi newspaper reported.
Earlier, the media reported that Japan would not join such a coalition due to its close economic ties with Iran, as an important oil producer. ...

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Explosions on Iranian oil tanker off Jeddah's coast cause spill

Explosions on Iranian oil tanker off Jeddah's coast cause spill

Suspected rocket attack damages Iranian vessel causing an oil leak off Saudi Arabia's port city of Jeddah.
An Iranian oil tanker in the Red Sea was hit by two suspected rockets on Friday off the coast of Saudi Arabia, raising fears of further escalation in the already-volatile Gulf region. 
The National Iranian Tanker Company (NITC) said in a statement the hull of the ship ...

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Imports, exports volume increases in H1: Deputy roads min.

Imports, exports volume increases in H1: Deputy roads min.

TEHRAN, Oct. 09 (MNA) – Deputy Minister of Roads and Urban Development and CEO of Ports and Maritime Organization (PMO) Mohammad Rastad on Wednesday said that imports and exports volume increased in the country in the first half of the current year (March 21 – Sept. 22).
Despite all the threats and problems created for the Islamic Republic of Iran Shipping Lines (IRISL) and ...

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Russia's Rosneft ditches dollar for all new export deals: report

Russia's Rosneft ditches dollar for all new export deals: report

The contracts include crude oil, oil products, petrochemicals and liquefied petroleum gas, tender documents showed, according to Reuters.
The switch from US dollars, which happened in September according to the tender documents published on Rosneft’s website, is set to reduce the state-controlled firm’s vulnerability to potential fresh US sanctions.
Washington has threatened ...

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Iran, Venezuela to return to global oil market in normal way: Iraqi min.

Iran, Venezuela to return to global oil market in normal way: Iraqi min.

TEHRAN, Sep. 13 (MNA) – The Iraqi oil Minister Thamer Ghadhban said Thur. that Iran and Venezuela will come back to oil markets in a 'normal way'.
Iraq will be fully compliant by October with agreed oil output cuts under an OPEC-led supply deal and Baghdad’s reduction will amount to 175,000 barrels per day (bpd), Oil Minister Thamer Ghadhban said on Thursday, according to ...

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SEAWAVES SHIPPING SERVICES has been nominated as the best shipping agent of Iran

SEAWAVES SHIPPING SERVICES has been nominated as the best shipping agent of Iran

We hereby would like to proudly announce that SEAWAVES SHIPPING SERVICES has been nominated as the best shipping agent of Iran by Port and Maritime Organization of Iran ( Ministry of Transportation ). We would like to take this opportunity to thank you all for great support towards Seawaves and it is indeed our privilege to have worked with such valued business partners and on the other hand, we are ...

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Iran, UK exchange documents on Iranian oil tanker release

Iran, UK exchange documents on Iranian oil tanker release

TEHRAN, Aug. 13 (MNA) – Deputy Head of Iran Ports and Maritime Organization (PMO) Jalil Eslami said on Tuesday that some documents have been exchanged between Iran and UK to facilitate the release of the illegally-detained Iran-operated oil tanker, Grace 1, by the UK.
“The seizure of the Iranian oil tanker was based on unrealistic reasons and PMO is making efforts to have ...

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Iran says it seized UK tanker Stena Impero in Strait of Hormuz; owners confirm lost contact

Iran says it seized UK tanker Stena Impero in Strait of Hormuz; owners confirm lost contact

Stena Impero was in an accident with a fishing boat before being detained, says official
The British-flagged tanker Stena Impero was in an accident with a fishing boat before being detained on Friday, Iran's Fars news agency reported on Saturday, quoting an official.
Iran says all 23 crew seized on the tanker are now at Bandar Abbas port and will remain on the vessel until the end ...

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UK seizing Iranian tanker on behalf of B-Team very cheap, wrong move: Rouhani

UK seizing Iranian tanker on behalf of B-Team very cheap, wrong move: Rouhani

Tehran (ISNA) – Iran’s President described the United Kingdom’s seizure of Iranian tanker a childish, cheap and wrong move, saying, “The British are the initiator of insecurity in seas and we hope that they do not repeat this, because it will spread insecurity throughout the world and to everybody’s detriment”.
Speaking in a cabinet session on Wednesday, ...

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Europe should stand up to US’ economic terrorism against Iranian nation: President Rouhani

Europe should stand up to US’ economic terrorism against Iranian nation: President Rouhani

Tehran (ISNA) - Stating that the withdrawal of the United States from the Joint Comprehensive Plan of Action (JCPOA) had nothing but negative impacts on interaction among countries and security of the region, Iranian President said, “The Islamic Republic of Iran has never been, and will never be, locked in a stalemate under pressure and sanctions”.
Speaking in a meeting with the ...

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US imposes new sanctions against Iran petrochemicals

US imposes new sanctions against Iran petrochemicals

Tehran (ISNA) – In a hostile measure, the U.S. Treasury Department announced that it imposed new sanctions on 39 petrochemicals companies.
The U.S. Treasury Department in a statement on Friday said that the new sanctions will apply to the Persian Gulf Petrochemicals Industries Company and dozens of its subsidiaries and sales agents.
In the statement, the U.S. Treasury Department ...

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Iran, Kazakhstan resolved to Expand Mutual Ties

Iran, Kazakhstan resolved to Expand Mutual Ties

TEHRAN, May 07 (MNA) – Ambassador of Kazakhstan to Iran and Iranian deputy minister of roads and urban development emphasized on the expansion of shipping and transit cooperation and promoting maritime relations between the two countries, in a meeting on Tuesday.
In this meeting held in Tehran, the Iranian deputy minister Mohammad Rastad, said that Kazakhstan has expressed interest ...

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Iran’s winning cards in facing US sanctions

Iran’s winning cards in facing US sanctions

TEHRAN, Apr. 29 (MNA) – Surrounded by fifteen neighboring countries through land and sea, Iran enjoys a very strategic geopolitical and economic position in the Middle East.
Considering the US recent actions for increasing pressure on the country’s oil industry, many economy experts and scholars believe that Iran should retaliate by focusing more on improving domestic ...

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Drewry: Tight Supply to Keep Oil Prices Up in Q4

Drewry: Tight Supply to Keep Oil Prices Up in Q4

Tanker owners are gearing up for the seasonal surge in global demand for oil in the fourth quarter of 2018, which coincides with the entrance into force of US sanctions on Iran.
Iranian companies that are facing the new wave of sanctions following the 180-day wind-down period ending on November 4, 2018 are the National Iranian Oil Company (NIOC), Naftiran Intertrade Company (NICO), and ...

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Global Tanker Market Poised to Benefit from Iranian Supply Chain Dislocation

Global Tanker Market Poised to Benefit from Iranian Supply Chain Dislocation

The stars are aligning for the global tanker market which is in dire need of recovery. The key factors heralding the pick up in rates include continued improvement of demand for and supply of crude driven by an increase of OPEC production and the dislocation from Iranian sanctions, Paddy Rodgers, CEO of Belgian tanker shipping company, said.
“The direction of travel for the large tanker ...

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Iran Says It Will Block Middle East Oil Exports If It Can’t Ship

Iran Says It Will Block Middle East Oil Exports If It Can’t Ship

Iran will halt Middle East oil exports if it’s not allowed to ship its crude through the Strait of Hormuz, according to a top military official.
If the Islamic Republic can’t use the Strait for its oil exports, “there will be no security for others either and no other crude will be exported from this region,” Armed Forces Chief of Staff Mohammad Bagheri said, state-run ...

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Trump Reimposing Sanctions on Iran’s Shipping and Shipbuilding

Trump Reimposing Sanctions on Iran’s Shipping and Shipbuilding

The U.S. Government plans to reimpose sanctions on Iran’s port operators, and shipping and shipbuilding sectors, in line with the decision of the country’s president Donald Trump to withdraw from the Iran Nuclear Deal.
Trump said on Tuesday, May 8, that the United States will pull back from the Joint Comprehensive Plan of Action (JCPOA) and begin reimposing U.S. nuclear-related ...

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Iran Blames CF Crystal for Sanchi Tragedy

Iran Blames CF Crystal for Sanchi Tragedy

The cause of the fatal collision between Iranian tanker Sanchi and the Hong Kong-flagged bulker CF Crystal in January this year was the bulker’s changing of direction minutes before the crash, the Iranian Ports and Maritime Organization (PMO) said.
The findings were voiced by Nadar Pasandesh, Iranian representative of the committee investigating the cause of the incident, who ...

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India, Iran Ink Short-Term Lease for Part of Chabahar Port

India, Iran Ink Short-Term Lease for Part of Chabahar Port

India has signed a short-term lease contract with Iran for a part of Chabahar Port.
Under the contract between Port and Maritime Organization (PMO), Iran and India Ports Global Limited (IPGL), India would operate Shahid Beheshti Port, Phase 1 of Chabahar Port, for a term of one and a half year.
Signed during Iranian president Hassan Rouhani’s recent visit to the country, ...

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Iranian oil tanker burns, 32 people missing after collision off China’s coast

Iranian oil tanker burns, 32 people missing after collision off China’s coast

A tanker carrying Iranian oil and run by the country's top oil shipping operator was ablaze and spewing cargo into the East China Sea on Sunday after colliding with a Chinese bulk ship, leaving its 32 crew members missing, the Chinese government said.
Thick clouds of dark smoke could be seen billowing out of the Sanchi tanker , engulfing the vessel as rescue efforts were hampered by bad weather ...

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IRISL Eyes London Stock Exchange Listing?

IRISL Eyes London Stock Exchange Listing?

The Islamic Republic of Iran Shipping Line (IRISL) is looking to list on the London Stock Exchange as the company has already held talks on a possible initial public offering (IPO), Reuters said citing undisclosed Iranian and Western sources.
However, the company is experiencing difficulties in its intentions as the majority of businesses are still distancing themselves from Iran amid heating ...

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 PMO: USD 1 Trillion to Be Invested in Iranian Ports

PMO: USD 1 Trillion to Be Invested in Iranian Ports

Representatives of the Iranian Government have signed investment contracts with private entities worth USD 1 trillion to develop Iranian ports, the country’s Ports and Maritime Organization (PMO) said. 
The contracts include investments of USD 10 billion in Mazandaran Province, USD 20 billion in Khorramshahr Port, USD 100 billion in Gilan Province, USD 70 billion in Amirabad ...

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NITC Mulls Investment in LNG Tanker Fleet

NITC Mulls Investment in LNG Tanker Fleet

National Iranian Tanker Company (NITC) is considering venturing into the liquefied natural gas (LNG) market as Iran gears up for production of natural gas in the future.
The plans were revealed by Mohammad Reza Shams Dolatabadi, NITC’s head of international affairs, Reuters reported, who said that NITC was looking into the acquisition of LNG tankers in the upcoming three to five ...

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 Iran Sets Up JV Shipping Company with Kazakhstan

Iran Sets Up JV Shipping Company with Kazakhstan

Iran has established a joint venture shipping company with Kazakhstan, Tasnim news agency reports citing a statement from the Islamic Republic of Iran Shipping Lines’ (IRISL) managing director Mohammad Saeedi.
According to Saeedi, the new company would be headquartered in Bandar Anzali, Iran.
The move is said to be aimed at boosting bilateral trade in the aftermath of sanctions’ ...

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Iran Ends LPG Exports to Japan

Iran Ends LPG Exports to Japan

Although Iran stopped liquefied petroleum gas (LPG) exports to Japan, the country’s supply will not go to waste as a large number of customers are showing their interest for the LPG, Iranian Mehr News Agency cited the Director general of the Association of Petrochemical Industry Corporations (APIC) Ahmad Mahdavi.
Mahdavi was quoted as saying that the ...

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IRISL Eyes London Stock Exchange Listing?

IRISL Eyes London Stock Exchange Listing?

The Islamic Republic of Iran Shipping Line (IRISL) is looking to list on the London Stock Exchange as the company has already held talks on a possible initial public offering (IPO), Reuters said citing undisclosed Iranian and Western sources.
However, the company is experiencing difficulties in its intentions as the majority of businesses are still distancing themselves from Iran amid heating ...

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Iran, UK sign biggest post-JCPOA contract

Iran, UK sign biggest post-JCPOA contract

Danish shipping giant Maersk Line has restored its services to and from Iran, after a five-year absence from this Middle East country. 
The company said it offers nine mainline services with weekly departures on all major trade lanes to/from Jebel Ali, with a direct feeder to Bandar Abbas.
For imports from Iran, there are three weekly services connecting the Middle East and ...

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Maersk Line Makes a Comeback to Iran

Maersk Line Makes a Comeback to Iran

Danish shipping giant Maersk Line has restored its services to and from Iran, after a five-year absence from this Middle East country. 
The company said it offers nine mainline services with weekly departures on all major trade lanes to/from Jebel Ali, with a direct feeder to Bandar Abbas.
For imports from Iran, there are three weekly services connecting the Middle East and ...

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VesselsValue: Demand for Iran’s Crude Doubled

VesselsValue: Demand for Iran’s Crude Doubled

Following the lifting of sanctions against the Islamic Republic of Iran in early 2016, seaborne demand for Iranian crude has more than doubled, according to a report released by VesselsValue.
In the past five years, the greatest demand for Iranian crude came from China, Japan and South Korea, respectively.
Excluding the Iranian domestic trade the most journeys of crude were made to China ...

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IRISL enjoys $1bn insurance coverage

IRISL enjoys $1bn insurance coverage

TEHRAN, Sep. 12 (MNA) – IRISL head said the Islamic Republic of Iran Shipping Lines is presently under one billion dollars of insurance coverage.
Speaking at a ceremony held to commemorate the World Maritime Day, Managing Director of Islamic Republic of Iran Shipping Lines (IRISL) Mohammad Saeidi said the International Maritime Organization (IMO) has chosen one such day every year since ...

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Iran: Total and NIOC sign contract for the development of phase 11 of the giant South Pars gas field

Iran: Total and NIOC sign contract for the development of phase 11 of the giant South Pars gas field

Paris, July 3, 2017 – Total and the National Iranian Oil Company (NIOC) have signed a contract for the development and production of phase 11 of South Pars (SP11), the world's largest gas field. The project will have a production capacity of 2 billion cubic feet per day or 400,000 barrels of oil equivalent per day including condensate. The produced gas will supply the Iranian ...

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Post Sanction in Iran and its effects on Oil, gas, Petrochemical and Shipping Industries:

Post Sanction in Iran and its effects on Oil, gas, Petrochemical and Shipping Industries:

Economical sanctions on Iran have caused some restrictions for several years especially on those companies who were active in Iran in oil and gas industry.
A major country in terms of natural sources of Oil and Gas have a lot to say in the international market, 2nd reservoirs of gas in the world and 4th of Oil and in total, biggest reservoirs of natural source in the world make Iran as one of ...

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Dutch Firms to Visit Iran, Explore Economic Opportunities

Dutch Firms to Visit Iran, Explore Economic Opportunities

Port development and maritime technology will be in focus of the visit of the Netherlands’ Minister of Infrastructure and the Environment Melanie Schultz van Haegen-Maas Geesteranus and a delegation of Dutch companies to Iran from October 23 to 28, 2016. During the visit, the trade delegation will meet with Iranian ministries in Tehran, and Dutch companies will meet with their Iranian counterparts. ...

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Maersk Line Expands Foothold in Iran.

Maersk Line Expands Foothold in Iran.

Danish container shipping company Maersk Line has added Iranian Port of Bushehr to its services, expanding its presence in this Middle-Eastern country.  From Jebel Ali in the United Arab Emirates, the first sailing on a direct and weekly feeder connection to Bushehr commenced on January 4, 2017.
The firm has deployed Inter Sydney, a 3,400 TEU containership, in the service.
With ...

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