Iran, Japan ink MoU to broaden shipping cooperation

The Islamic Republic of Iran Shipping Line (IRISL) and two Japanese companies signed a memorandum of understanding (MoU) to broaden bilateral ties.

The MoU had been signed following meeting between IRISL Managing Director Mohammad Saeedi and CEOs of Japan’s Suzue Corporation and Kamigumi.

The Suzue and Kamigumi companies are Japan's logistic and port service companies operating in Singapore.

Under the MoU, the two sides will examine ways and means of building onshore ports and invest in port terminals in Iran in partnership between the two companies.

The IRISL Chief said that the IRISL ranked 23 worldwide in 2015, but its ranking was promoted to 19 in 2016.

Saeedi said that competition in world markets is of high importance for the IRISL and the company tries to improve its position worldwide by renovating its fleet.

"In the past one year, we have been able to regain a large portion of the share lost in the sanctions era," he added.

EA