From asset freezes and insurance blockades, to bans on SOLAS
renewals and even the sale of compasses: the sanctions imposed by
the EU and US since 2010 have had a significant impact upon the
shipping sector for many years now. Following the JCPOA
"Implementation Day" on 16 January 2016, both Iranian and
international companies in the shipping sector are now looking to
take advantage of the opening up of Iran.
For some significant Iranian shipowners such as NITC and IRISL
the sanctions meant that they were placed completely off limits to
charterers, cargo interests, and – crucially - insurers by
asset freezes. Besides those shipowners subject to asset
freezes, any Iranian owned (or even chartered) vessel was prevented
from obtaining the services of EU based surveyors, flags or
classification societies. EU oil and chemical tankers
were off limits to Iranian charterers. Sales of key equipment
and technology for the maritime industry, including marine
propulsion
