Minister for Shipping, has said that the government is keen on developing Chabahar Port in Iran and is hopeful of starting operations by 2018.
India Ports Global Ltd. has signed a contract with Aria Banader of Iran to equip and operate two terminals at Chabahar – Shahid -Beheshti Port in Iran.
Iran probably initiates negotiations with global energy giant Shell over the development of Kish gas field which holds the country’s largest reservoirs of natural gas after South Pars.
Strengthening its presence further in the Middle East, IRClass has also set up an office in Tehran to offer its services to the Iranian maritime sector.
Maerskline is expanding its presence in Iran with the addition of the port of Bushehr to its services.
India signs a bilateral agreement to develop the Chahbahar port and related infrastructure, and availability of about US$ 500 million from India for this purpose. The effort focuses to boost economic growth in the region.
Iran is seeking $2.5 billion investment to modernise its oil tankers fleet following the lifting of sanctions against Tehran, managing director of National Iranian Tanker Company (NITC) was quoted as saying by state news agency IRNA on Saturday.
Iran expects the United Nations nuclear watchdog to confirm on Friday it has curtailed its nuclear program, paving the way for the unfreezing of billions of dollars of assets and an end to bans that have crippled its oil exports.
The world’s second biggest container shipping line, MSC, has become the latest firm to resume direct services to Iran, although trade remains cautious as Western sanctions are still in place and regional tensions escalate.
Iran said on Wednesday a legal settlement could be reached soon over its seizure of a Marshall-Islands flagged container ship, and the U.S. military said it stopped accompanying commercial ships through the Strait of Hormuz, at least for now.