IRISL ships free to trade after Steamship P&I deal

A large part of the Islamic Republic of Iran Shipping Lines (IRISL) fleet has regained protection-and-indemnity (P&I) cover from Steamship Mutual.

News ID: 71077

Date: 24 December 2016 - 11:40

According to MANA, More than 50 IRISL vessels have been entered in the International Group club that was a key insurer of the Iranian fleet before sanctions ended the relationship in 2009.

IRISL has put containerships, larger bulk carriers, multipurpose (MPP) vessels and offshore support craft into the club and appears to be prioritizing ships that are actively trading internationally.

Steamship Mutual was the P&I club most favored by Iranian owners before sanctions were imposed seven years ago, and as TradeWinds reported in August, has already signed up part of the National Iranian Tanker Co (NITC) fleet.

IRISL signed a memorandum of understanding with Skuld during a Norwegian trade mission to Tehran in August but this has yet to bear fruit.

Now that IRISL and NITC have rebuilt their relationships with Steamship Mutual.