Tag: Iran

CMA CGM has signed a landmark deal with the Islamic Republic of Iran Shipping Lines (IRISL) for the expansion of its presence in Iran, the French government said.

RINA expects to start verifying safety and environmental standards for Iranian ships including oil tankers in a matter of weeks, the classification society has announced.

All P&I Clubs in the International Group have issued circular to advise operators of the current position on their insurance cover arrangements with the regard to the partial lifting of Iran sanctions under the Joint Comprehensive Plan of Action (JCPOA).

The London P&I Club informs about the lifting of certain US, EU and UN sanctions against Iran following verification by the International Atomic Energy Agency (IAEA) on 16 January 2016 that Iran has implemented the agreed nuclear-related measures as set out in the Joint Comprehensive Plan of Action (JCPOA).

On 14 January 2016, the Council extended until 28 January 2016 the suspension of certain EU restrictive measures against Iran specified in the Joint Plan of Action of November 2013.

An agreement has been reached between US, UK, Germany, France Russia, China, EU, and Iran called the Joint Comprehensive Plan of Action (JCPOA) to pave the path towards easing of Iran sanctions.

With container traffic in slowdown in most areas of the world, the lifting of Iranian sanctions does at least offer a ray of hope to carriers

The attention of the shipping community is drawn to EU amending Decision concerning restrictive measures against Iran

US Authorities issued guidance and FAQs regarding JPOA for further information on Iran Sanctions

Analysis by Poten & Partners Poten & Partners issued an article regarding the impact of the Iran deal on the tanker market. The diplomatic agreement of 14 July 2015 between the E3/EU+3 and the Islamic Republic of Iran has opened opens the way for the restoration of trade activates with Iran by lifting the trade, energy, insurance and banking embargoes that have been incrementally imposed by the European Union and U.S since 2009.On July 14, the P5+1 (5 permanent members of the UN Security Council plus Germany) announced that they reached an agreement with the Iranian government on sanctions relief in exchange for compliance of Iran with a series of requirements which reduce their ability to create nuclear weapons for at least a decade. Before the sanctions took effect in 2012, Iran exported about 2.5 million barrels of oil per day (Mb/d) compared to about 1.3 Mb/d in 2014. What will the likely impact on the tanker market be?There are several steps that need to be taken before sanctions are lifted. There is a legal approval process in the UN, European countries and in the U.S. Especially in the U.S., the agreement has to go through a lengthy review by ...