The IRISL's Deputy Chief Financial Officer announced:

The Arrival of Korean Ships to Increases National Fleet Capacity

The IRISL's Deputy Chief Financial Officer said: "following the arrival of 10 ships built in the Korean shipyards, the capacity of national fleet will increase by 50 percent."

News ID: 76806

Date: 18 October 2017 - 08:44

Referring to IRISL's situation in three time periods before, during the sanctions and post-sanctions era, Ahmad Shahbaz Beigi- IRISL's Deputy Chief Financial Officer- in an interview with MANA International Group said: Islamic Republic of Iran Shipping Lines is one of the unique Iranian companies because it is one of the numerable economic enterprises which its financial and commercial deals are international; and is directly affected by the global economy's condition.

Considering IRISL's normal situation accompanied by international competition before the sanctions, he added that: IRISL as a national fleet have experienced good financial state during the sanctions and in a situation that foreign companies were banned from entrance to the country's ports due to the cruel imposed sanctions.

According to him, IRISL could recapture its position in the international era by sanctions' removal and enter the competitive atmosphere with other shipping lines.

Referring to an appropriate profit margin during the crisis in maritime transportation as one of the positive effective factors of the national fleet, he further continued: if we have a comparative look at international companies, we would reach the conclusion that IRISL has encountered the difficulties in an excellent manner while other big shipping companies faced challenges and recorded heavy losses.

He further pointed out that IRISL had a desirable performance in 2015 and 2016 while a heavy shadow of competitive condition and slump in transportation market ruled the industry. In line with this, he said that during the first half of the current year and by considering the information which hasn’t been audited due to the performance of Group's companies, IRISL enjoyed a 30 to 45 percent growth in its achievement which demonstrates a sign of gaining profit in the current fiscal year.

He called the post-sanctions era an appropriate opportunity for IRISL to implement developmental programs and continued: during the sanctions era and due to the limitations, the national fleet couldn’t be renovated parallel to the international companies. But now, IRISL focuses on it to become reality.

Shahbaz Beigi referred to the 10 ships ordered to be build by Hyundai and added that arrival of these ships will increase the capacity of the fleet by 50 percent.

He emphasized: IRISL's stock price flow in the stock market and during the two past years shows that it doesn’t follow the fluctuations in the capital market with the purpose of recording a stable flow and we hope applying developmental programs to provide the profits of stockholders more than before and IRISL's stock to remain a valuable and attractive choice in securities exchange.

Given the financial supports of Korean and Chinese banks in applying developmental programs, IRISL's Deputy Chief Financial Officer continued: considering the credit line worth Eight billion Euros created by Central Bank of the Islamic Republic of Iran in South Korea and another one in China, it announced its readiness to support the developmental programs.