UASC into Port Said

The state-controlled Islamic Republic of Iran Shipping Lines (IRISL) has confirmed orders with Hyundai Heavy Industries (HHI) for the construction of several 14,500 TEU container ships and 49,000 dwt product/chemical carriers. IRISL has not confirmed the exact number of vessels it has ordered, and it has been reported as both four and eight container carriers by different media outlets.

Transhipment activity may be slowing down as operational, commercial and fiscal factors combine to make the concept less efficient and acceptable.

Dry freight container builders are facing further difficulties this year, with production having declined to a seven-year low and finished prices remaining weak.

After being struck by a vessel, a crane has collapsed and started a fire at the Suez Canal Container Terminal in East Port Said, Egypt.

Iranian shipping line IRISL is close to ordering its first new ships of the post-sanctions era. WorldCargo News understands that an agreement is imminent with Hyundai Heavy Industries for at least three 14,500 TEU ships. Talks are also taking place with other South Korean and Chinese yards for tonnage that the carrier hopes to have in service in 2018.

The Suez Canal Authority has agreed to build a side channel to allow vessels to access East Port Said port independently of Suez Canal convoys