World’s largest container firm stops Iran operations
Maersk Line, the world’s largest container firm, stopped operations to several Iranian ports last Thursday.
Maersk manages several refrigerated ships and container vessels that transport food to the country, including wheat and rice. Last week, the United States blacklisted Tidewater Middle East Co., and prohibited US entities from any transactions with the Iranian port operator. Tidewater manages over 90 percent of Iran’s container operations.
Commenting on a press release issued by Morten Engelstoft, Chief Operating Officer of Maersk Line, said: “Maersk Line is committed to complying with all relevant foreign trade controls and sanctions programs, including all relevant provisions of US and EU sanctions related to Iran. We have a comprehensive compliance program in place and continue to take all actions necessary to comply with all US and EU trade regulations. In this connection, Maersk Line has decided to cease acceptance of business to and from the Iranian ports of Bandar Abbas, Bandar Khomeini and Asaluyeh.”
The three ports combined handled a total of 2.56 million tonnes of general cargo and 10.32 million tonnes of bulk goods.
- Oman’s Duqm tourist complex moves forward with government approval
- Kuwait fights budget deficit: Reexamining government salaries, expatriate labor
- Tunisian Confederation of Industry, Trade, and Handicrafts fights nationwide unemployment levels
- Construction costs fall in Dubai
- Western tourists flock to Iran, could generate $30B in new revenue
- DP World wooed by Korean container terminal authority
- Dubai Police in the Spotlight after Taking Part in World's Largest Drug Bust
- SriLankan is world’s first airline to fly London-Male-London non-stop return
- Iran to blacklist foreign firms
- Sharp launches world’s largest 108-inch LCD display in the Middle East at Gitex 2008