LEGAL UPDATE: November 2023
During the first half of the current Iranian calendar year (March 21-September 22), Imam Khomeini Port, situated in the southwestern Khuzestan province, witnessed a substantial volume of loading and unloading activities, totaling 21.4 million tons, according to an announcement by a provincial official.
Aboutaleb Geraylou, the Head of Khuzestan’s Ports and Maritime Department, detailed that non-oil goods accounted for 11.766 million tons, while oil products constituted 9.633 million tons of the total figure.
The Ports and Maritime Organization (PMO) of Iran reported a nationwide increase of three percent in the loading and unloading of goods across the country's ports during the same period. The overall figure reached 111,806,313 tons, with 74,415,327 tons attributed to loading and 37,392,654 tons to unloading.
This positive trend includes a notable nine percent increase in the loading of goods compared to the corresponding period in the previous year. The container sector saw a five percent rise in operations, reaching 1,432,672 TEUs (Twenty-Foot Equivalent Units) during the first half of the current year.
Amidst the challenges posed by U.S. unilateral sanctions, Iran's ports continue to play a crucial role as major gateways for both exports and imports. Recognizing this significance, the government has initiated projects aimed at the development and enhancement of ports, encouraging investment and facilitating the loading and unloading processes, particularly for essential commodities.
The Ports and Maritime Organization has outlined an ambitious plan to double the capacity of the country's ports within the next five years. The capacity has already seen growth, increasing from 180 million tons in the Iranian calendar year 1392 (ended in March 2014) to 250 million tons in 1399 (ended in March 2021).
Iran and Turkey are set to hold the eighth meeting of the Supreme Council of Economic Cooperation, signaling a commitment to strengthen economic ties and bilateral collaboration. The announcement was made by Mehrdad Bazrpash, Iran's Minister of Transport and Urban Development, during a ceremony commemorating the 100th anniversary of the Republic of Turkey at the Turkish embassy in Tehran.
The Supreme Council of Economic Cooperation serves as a pivotal platform for high-level discussions between the two countries, aiming to address key economic matters, foster partnerships, and explore avenues for mutual growth. Bazrpash highlighted the importance of this upcoming meeting, emphasizing the potential for enhanced cooperation in various sectors, particularly in transportation.
The economic collaboration between Iran and Turkey has significant implications, with both nations seeking to leverage their respective strengths and complement each other across diverse economic domains. The dialogue at the Supreme Council is expected to cover areas such as trade, infrastructure development, security, politics, culture, and sports.
This announcement follows the successful hosting of the seventh meeting of the Iran-Turkey Supreme Council of Economic Cooperation in July 2022. During that meeting, President Ebrahim Raisi of Iran and President Recep Tayyip Erdoğan of Turkey, along with other high-ranking officials, discussed solutions to bolster relations and expedite the implementation of agreements between the two countries.
Iran and Russia have unveiled plans to jointly invest a significant sum of $38 billion in the development of the International North-South Transport Corridor (INSTC). The announcement was made during an international conference named "The North-South Corridor; a New Concept" held in the Russian city of Astrakhan.
Dariush Jamali, the Iranian director of the Russian Port of Solyanka, emphasized the pivotal role of the INSTC as a key element within the Eurasian transport network. The ambitious investment plan is geared toward enhancing the various routes of the INSTC, including the trans-Caspian shipping lines.
The funding distribution sees Russia and Iran contributing 35% and 34%, respectively, to the total investment of $38 billion. The initiative underscores the commitment of both countries to bolstering their collaboration on critical transportation infrastructure.
Jamali highlighted the measures taken by the Islamic Republic of Iran Shipping Line (IRISL) to bolster the INSTC, including the acquisition of 30 rail wagons, 5,400 containers, and the construction of 21 equipped vessels to reinforce maritime routes. IRISL's investment in Russia’s Solyanka Port, aimed at expanding capacity and infrastructure, is a crucial component of the overall strategy.
The INSTC project, initiated in 2002, represents a collaborative effort between Iran, Russia, and India. The corridor spans 4,500 miles through multiple Eurasian countries, providing an integrated transportation system comprising rail, road, and sea routes. The primary objective is to significantly reduce travel costs and shipping times, fostering increased commercial links between Asia and Europe.
This substantial investment underscores the commitment of Iran and Russia to advancing the development of strategic transportation networks, contributing to enhanced connectivity and trade efficiency.
During the first half of the current Iranian calendar year (March 21-September 22), Imam Khomeini Port, situated in the southwestern Khuzestan province, witnessed a substantial volume of loading and unloading activities, totaling 21.4 million tons, according to an announcement by a provincial official.
