Market expects lower freight rates for Iran routes

After the long-standing sanctions on Iran were lifted on 16 Jan 2016, the freight rates for Iran routes are expected to reduce as a result of increased number of vessels plying that course.

It is reported that there are only certain vessels, including from Turkey, China and Vietnam are allowed to load and discharge in Iran at the moment while the others are facing insurance restrictions. However, these limitations will soon be removed which will enable more international vessels to ply Iran routes.

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