Iran’s state-owned shipping company IRISL [ds_preview]is said to be in advanced talks with Korean Hyundai Heavy Industries for an order of 10 container ships and tankers, worth 650 mill. $
The deal may be part of plans by IRISL (Islamic Republic of Iran Shipping Lines) to spend a total of up to 2.5 bill. $ to modernize its fleets, report the Wall Street Journal. The order could mark the return to the international market after a decade of being imposed to sanctions against Iran.
The IRISL order involves four mega-container vessels (14,000 TEU) and six tankers for petroleum products. The first deliveries are expected in 2018. The company currently operates about 115 oceangoing vessels, most of them out-of-date.