By Nikolaj Skydsgaard

COPENHAGEN Oct 27 (Reuters)– Container delivery company Islamic Republic of Iran Shipping Lines (IRISL) anticipates to have actually reclaimed by the center of following year business shed while Iran went through worldwide permissions, its chairman claimed on Thursday.

International permissions were raised in January complying with an arrangement with globe powers on Tehran’s contested nuclear program.

“Step by step the problems have been resolved (since then), removing many restrictions and limitations,” Mohammad Saeidi informed Reuters in a meeting at the Danish Maritime Forum meeting in Copenhagen.

“I think at the maximum in mid-2017 the whole thing would be in the normal manner (of) things.”

He claimed he wished to see constraints on buck purchases eliminated after following month’s united state governmental political elections.

“That will be one of the U.S. commitments based on the agreement we signed last January … This is a very certain commitment by the U.S.,” he claimed.

united state financial institutions are prohibited to do company with Iran under residential permissions still active. European financial institutions likewise encounter issues, considering that purchases with Iran in bucks can not be refined via the united state economic system.

A stagnation in worldwide profession along with an excess of vessels has actually left the container delivery market fighting with its worst ever before market problems, however Saeidi claimed the post-sanctions atmosphere suggested IRISL would certainly be aiming to broaden its 156-ship fleet.

“We are negotiating with some shipyards and some makers and hopefully it would reach clear conclusions in the next 3-4 months,” he claimed.

The recession in the market required one significant gamer– South Korean container line Hanjin Shipping Co Ltd– closed in August, leaving an approximated $14 billion of freight stranded.

POSITIVE SIDE

Saeidi claimed Hanjin’s receivership had actually produced “a little bit of a good market” for IRISL, due to the fact that “now the (Hanjin) customers are approaching us to provide services from South Korea, China to Iran.”

Trade in between Iran as well as Europe would certainly get significantly following year, he forecasted, with the Islamic Republic exporting petrochemicals while “we need many heavy industry and heavy machinery and power plants and power generation and new technology from the European zone.”

Overall, he saw the future of a tough market in a favorable light.

“We have some challenges. The overcapacity in the market is one of them. The low price and low freights is (an)other… But generally I’m optimistic,” he claimed.

He decreased to discuss whether IRISL would certainly bid for Hanjin possessions offered, as well as claimed the prepared merging of 2 various other container delivery companies, Hapag-Lloyd as well as UASC, would certainly not contribute to press on quantities in the Middle East.

“They have their own capacity and we have ours. We don’t have any challenges with that.”

IRISL was talking about funding with Asian financial institutions however would certainly invite deals from European ones.

“Before the sanctions we have had a good connection with European banks and they have financed many projects … after the sanctions there is no sign (of them),” Saeidi claimed. (Writing by John Stonestreet; Editing by Mark Potter)

( c) Copyright Thomson Reuters 2016.