Iran has shipbuilding deals with Hyundai and Nordic Yards Wismar

A ship built by Isoico
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Deals have been agreed for building ships with South Korea’s Hyundai Heavy Industries (HHI) and Germany’s Nordic Yards Wismar, Iran Shipbuilding & Offshore Industries Complex Company (ISOICO) managing director Hamid Rezaian was reported as saying today by Iran’s Tasnim News Agency.

“We have held numerous negotiations with the world’s big companies and now we intend to choose the best partner from among them,” Tasnim quoted him as saying.

Preliminary agreements had been reached with South Korea’s HHI and a memorandum of understanding had been signed with Nordic Yards, Rezaian was reported as saying.

He said talks about shipbuilding projects had also been held with Italian and Chinese firms. Further agreements had been reached with Turkmenistan for “big projects” when sanctions are lifted, Tasnim reported Rezaian as saying.

Iran owns and operates 42 VLCCs, each with 2 million barrels of oil capacity, Tasnim said.

ISOICO operates a shipyard 37 kilometres west Bandar Abbas. It is a subsidiary of state-owned Industrial Development & Renovation Organization of Iran (IDRO).