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Hyundai shipdeal

Posted: 5. December 2016 at 18:10   /   by   /   comments (0)

The deal seems close: the South Korean shipbuilder Hyundai Heavy Industries Co. (HHI) wants to sell ten ships to the Islamic Republic of Iran Shipping Lines (IRISL). The deal, which is worth 650 million USD, should include four container ships as well as six tankers.

In May this year the Iran signed a Memorandum of Understanding with Daewoo Shipbuilding, another major South Korean shipyard. If the deal with HHI is sealed, the South Korean shipbuilder will be the first foreign one to supply the Iran with ships after the lifting of sanctions. The IRISL is looking for ship contracts in order to transport the growing amount of trade cargo.

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