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South Korea to start delivering Iran's ships in late March

Staff Writer |
Iran will receive the first out of ten ships from South Korean shipyards in late March 2018.

South Korea is planned to deliver the rest of the ships ordered by Iran one in every 45 days, Mohammad Saeedi, managing director of the Islamic Republic of Iran Shipping Lines (IRISL) told the Islamic Republic News Agency (IRNA).

In 2008, Iran ordered South Korean Hyundai Heavy Industries to build ships for the country, but the $650 million order was suspended due to the unjust anti-Iran sanctions which caused financial problems. The sanctions were lifted in January 2016.

Iran and South Korean shipyards signed a deal in Nov 2016 which, Saeedi said, was the restoration of the 2008 agreement.

Four out of the ten vessels which Tehran has ordered to the South Korean firm are container ships, the CEO said.

IRISL ranked 20 in the world in terms of sea transport, Saeedi said adding the figure will reach 16 or 17 after receiving the new ships.

Having 150 commercial vessels with the capacity of 5.2 million tons of goods, Iran plays an important role in exports, imports and transit of goods to South Korea, he said.

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