Reviving Iran-India Shipping Relationship

State-run Shipping Corp. of India Ltd., struggling for respite from an industry downturn, plans to revive a 40-year-old joint venture with an Iranian company.

News ID: 68636

Date: 03 September 2016 - 15:11

The Indian company is mulling whether to operate three bulk carriers and an oil tanker owned by the joint venture. It holds 49 percent of Irano Hind Shipping, while Islamic Republic of Iran Shipping Lines controls the rest.Prime Minister Narendra Modi is striving to scale up India’s ties with Iran as the latter opens up to the world again. India is considering up to $20 billion of investment in the Persian Gulf nation’s ports sector and energy industryAccording to MANA,The recent easing of sanctions on Iran opened the way to resuscitating Irano Hind Shipping Co., which potentially offers access to Central Asian markets such as Kazakhstan, according to the Indian company’s Chairman B. B. Sinha.
“We don’t want this company to just die out,” Sinha said in an interview on Wednesday, referring to the joint venture. “The other partner, Islamic Republic of Iran Shipping Lines, has got great presence in the Caspian Sea.”
The Indian company is mulling whether to operate three bulk carriers and an oil tanker owned by the joint venture. It holds 49 percent of Irano Hind Shipping, while Islamic Republic of Iran Shipping Lines controls the rest.