An Ambitious Investment: The unique geographical situation of the Islamic Republic of Iran should not be overlooked. No other country has access to the CIS countries, Russia and the Caspian Sea on the north and the Persian Gulf, Oman Sea and the Indian Ocean on the south. Economic circles have long referred to Iran as an ideal north-south transit corridor and a recent agreement between Iran, Russia and India renewed this measure.
IRISL has completed comprehensive studies to have an optimum performance going beyond shipping lines in order to make the best of the existing geographical advantages. One of the results that our studies led to was having our own dock in Shahid Rajaie Port which is already facing an overload of container cargoes. Negotiations have started with relevant officials for this ambitious investment, requiring IRISL to invest about $70 million to construct a 75-hectare terminal at the port.
IRISL has planned this project in three phases, with the first phase requiring $25 million. This project will in fact build a very strong base for Iran’s transit corridor. In other words, IRISL is making a serious effort for materialization of a protocol that requires the Iranian ports to be stations of a transit corridor. This will also mark a new development based on which IRISL will no longer limit itself to offshore operations. Our services will therefore further diversify. The bottom line is to add to the international capabilities of IRISL as Iran’s greatest commercial fleet. Parallel with its global vision, IRISL welcomes cooperation with international shipping lines worldwide.

A New Fleet: A part of IRISL fleet is naturally over-aged. Replacement of such old ships with modern ones is on agenda. Meanwhile, IRISL will be expanding its fleet to increase the carriage capacity for 3 million tons to 4.5-5 million tons in a period of five years. This enhancement of capabilities will be in both bulk and container departments. In addition to increasing the number of ships, IRISL will pay attention to technological progress of the fleet to boost its competitive advantages. Size, speed and fuel consumption are some determining factors in a bulk carrier and IRISL intends to recruit 185,000-ton bulk carriers also known as cape-size. Also in terms of container carriers, IRISL will be bringing ships with capacities over 5,000 t.e.u.
Two 73,000-ton “Panamax” ships are currently being built on the order of IRISL, due for delivery in May 2001. Moreover, IRISL has signed two contracts with the Persian Gulf Ship Building Complex for six container carriers and two Panamax ships that will be built with the cooperation of a German company. These contracts mark two significant developments: First, an unprecedented renovation of IRISL fleet and second, local building of modern ships. At the same time, another Iranian ship building company has taken order for two passenger ships from an affiliate of IRISL. It should be noted that IRISL would like to see a greater competence among Iranian ship building companies to meet its demands based on international standards.