Positive and negative developments have been reported within the Iranian shipping sector over the quarter. On the positive side, Iran has launched its first domestically produced container vessel, the 7,500 tonne Iran-Arak. The vessel can carry approximately 2,200 20-foot equivalent units (TEUs), and was built by the Iran Shipbuilding and Offshore Industries Company (ISOICO), with the co-operation of two foreign companies. The Iran Arak is part of a six-vessel orderbook placed with the ISOICO by the Islamic Republic of Iran Shipping Line (IRISL). It is this company that has been the source of bad press for the Iranian shipping sector over the quarter. In October, the UK Treasury ordered that 'UK financial services cease all business with the IRISL,' under the Counter Terrorism Act 2008. The US implemented similar sanctions against the Iranian shipping line in 2008. BMI notes that the UK Treasury's decision was made after a report that US warships had intercepted a ship chartered by the IRISL, which was bound for Syria and found to be carrying munitions. A further blow to the IRISL's reputation came in November, when Israeli commandos boarded a vessel off Cyprus and found illegal arms - IRISL was later named as the shipping agent. In the Q110 Iran Shipping Report we forecast an upturn in the country's maritime sector, as trade volumes look set to begin to recover from the downturn of 2009. Imports and exports for the country are expected to increase by 3% and 5% year-on-year (y-o-y) respectively in 2010. This will have a knock-on effect at the country's ports, as cargo volumes passing through the ports increase. BMI's shipping team forecasts that one of Iran's main ports, the Bandar Abbas, will, for example, experience a y-o-y throughput growth in container volumes of 6.81% in 2010. This is a considerable improvement on 2009 throughput, which due to the downturn in global trade volumes and the decline in Iran's total trade by an estimated 2.88%, saw the port's total box throughput fall by 5.55% to 1.889mn TEUs. BMI's Q110 Iran Shipping Report not only analyses the environment in the Iranian shipping market in 2010 but looks at developments going forward into the mid term (2011-2014) and considers whether the country's trade volumes will increase adequately to allow Bahrain's ports to reclaim their pre-downturn throughput levels. The report also contains an in-depth analysis of one of Iran's main ports, the port of Bandar Abbas. We offer an overview of the ports' infrastructure, and consider whether it will be able to cope with cargo growth or whether congestion could become an issue. The port's expansion and development plans are also reviewed, along with the facility's links to the rest of the country's freight transport. The Q110 Iran Shipping Report contains detailed company overviews of top 11 container lines. Our shipping desk has prepared an analysis of these companies' varying downturn strategies, and we offer our views and predictions on what 2010 holds for these lines.
For more information or to purchase this report, go to:
- http://www.fastmr.com/
About Business Monitor International
Business Monitor International (BMI) offers a comprehensive range of products and services designed to help senior executives, analysts and researchers assess and better manage operating risks, and exploit business opportunities, across 175 markets. BMI offers three main areas of expertise: Country Risk BMI's country risk and macroeconomic forecast portfolio includes weekly financial market reports, monthly regional Monitors, and in-depth quarterly Business Forecast Reports. Industry Analysis BMI covers a total of 17 industry verticals through a portfolio of services, including in-depth quarterly Country Forecast Reports. View more research from Business Monitor International at http://www.fastmr.com/
About Fast Market Research
Fast Market Research is an online aggregator and distributor of market research and business information. We represent the world's top research publishers and analysts and provide quick and easy access to the best competitive intelligence available.
For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156.
