IRISL enjoys $1bn insurance coverage

IRISL enjoys $1bn insurance coverage

TEHRAN, Sep. 12 (MNA) – IRISL head said the Islamic Republic of Iran Shipping Lines is presently under one billion dollars of insurance coverage.

Speaking at a ceremony held to commemorate the World Maritime Day, Managing Director of Islamic Republic of Iran Shipping Lines (IRISL) Mohammad Saeidi said the International Maritime Organization (IMO) has chosen one such day every year since 1999 and each time assigns a slogan for the day.
“The important issue of environmental protection has always been a part of these slogans,” highlighted the official asserting “the slogan for the present year also emphasized the theme of ports, ships and communication with people.”

He described maritime trade as the best means of trade in the world adding “two-thirds of the world's population lives on the shores as well as that 80 percent of the world's major commercial towns are situated by the seas.”

Referring to acceptable development of ports in the country and vast transportation, fishery and industry capacities in the southern seas of Iran as well as existence of 4,700 kilometers of coast in the south of the country, Saeidi said southern ports of Iran have the potential to supply drinking water from the sea, which will result in development coastal cities.

The official said safe and secure ports in addition to efficient and skilled manpower were main causes of the growth in Iran’s maritime transportation noting “focus on maritime industries remains the main driving force in maritime employment. In recent years, due to importance of environmental issues, more attention has been paid to modernization of the fleet.

IRISL chairman went on to underline that encouraging people to take offshore jobs was subject to promoting maritime culture with a focus of investments in the sector. At the same time, paying attention to the development of effective naval forces makes it possible to export these forces to other countries.

He described IRISL as an example of a successful company in the post-JCPOA era adding “at the moment, IRISL has regained its share of the global maritime business. The company has been linked to world ranking institutions and has signed international reinsurance contracts worth $ 1 billion.”

Saeidi also started that Islamic Republic of Iran Shipping Lines is currently a member of the board of directors of the London Club and, along with the National Petrochemical Company (NPC), was a member of the board of directors of the Bureau Veritas (BV) in Paris.

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