Business Standard-Shipping Corp to revive JV with Iranian Shipping Lines

The premier shipping line, which owns and operates around one-third of the Indian tonnage and services both national and international trades, stopped sailing to Iran in 2012 as insurance cover for oil and cargo could not be obtained in the wake of sanctions targeting Iran’s nuclear programme. 

After lifting of sanctions in January, International Group of Protection and Indemnity (P&I) Clubs, which insures the tanker market, has been able to obtain cover from some markets, an official said. 

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