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During the sanctions era, the process of orders and deliveries of new vessels was stopped due to increased restrictions and the imposed pressure against leading countries in the shipbuilding industry and correspondent of Iran. This, of course, has some consequences in maintaining the most important assets of the company i.e. its fleet of commercial vessels. These days, IRISL is at the time that requires the complete renewal of its basic assets which is its fleet. In this regard and with the purpose of competitiveness and uninterrupted effective presence in the global shipping markets, IRISL needs a new generation of Ecoships in terms of economy of scale with low fuel consumption that complies with the requirements of environmental. Moreover, at the current time by the provision of reasonable commercial conditions at post-JCPOA, the production cycle of the country’s key industries is increasingly operationalized and ready to import the products. Therefore now that the possibility of ordering to internationally recognized shipyards has been provided, and the type and number of required vessels have been determined, negotiations with credit institutions and shipyards, including banks and Chinese and Korean shipyards has been started. The orders for building vessels based on the development plans considered by IRISL will be delivered to these shipyards. In this context, and so far, after a year of continuous negotiations, IRISL succeeded to revive the shipbuilding contract which was signed in 2007 and 2008, and was immediately stopped. At the same time, it could change and improve the profile of vessels according to the company’s needs and comply with the pattern of sea transport industry, update their specification and also reduce the price based on the daily rate. Meanwhile, the Korean party withdrew all the arising claims in respect of damages and losses incurred and the previous in advance payments were regarded as the prepayments of the updated contracts.

During the sanctions, a large number of ships of the fleet were laid up. However, now all the ships of the fleet are active around the world. With the removal of the sanctions, the ability to operate the commercial fleet of the country is provided in all the trade routes of the world and also in the shipping lines of the East Asian region, North China, Europe, Africa, Oceania, North and South America and the Persian Gulf for exports and imports. This gives a great opportunity to Iranian merchants and the international marine transportation companies including IRISL and this is considered as a major transformation in our country’s economy. In the near future, Iran will be one of the main exporters of bitumen, mineral cargoes, petrochemical products, and gas condensates. With the implementation of JCPOA, there is no need for intermediaries and Iran could directly and with no restrictions export these products to European and East Asian Countries. One of the development plans of this company is to enter the Marine transportation market of these cargos. 

After the implementation of JCPOA, the most important developments of IRISL are the revival of agency networks and business lines throughout the world. After the implementation of JCPOA and in order to revive and expand the network of agencies, the following measures have been on the agenda: the establishment of joint companies of northern and southern Europe with the coverage of the countries such as Germany, Italy, Belgium and the Netherlands, the establishment of joint venture in Turkey and India, choosing the represented companies of the countries including Spain, France, Portugal, Slovenia, the Mediterranean basin and the Balkans, the revival of representing of South Africa, development of the agency network in the Persian Gulf and Oman Sea and the similar measures in South Asia and South America. In addition, commercial lines to all over the world including Europe, Mediterranean, South American, Japan, South Korea, the Middle East, South Asia, and Australia were revived. 

With the lifting of the sanctions against the Islamic Republic of Iran Shipping Line, the access to the global financial network and the ability to finance the major development projects of the company is provided which was stalled for years. In this regard, many international financial institutions have announced their readiness to cooperate with the company. Also, it is hoped that the money transfer fee at the international level and problems regarding the L/C opening will soon be resolved.