Tuesday, January 29, 2013

A look at Iran's Shipping Industry

The following is just a brief look at how the shipping industry is affected by international politics, sanctions, natural resources and more. For further information and a look at the full article see the link at the bottom.

In 2008 the US, UN, EU and other private parties placed sanctions on the Islamic Republic of Iran Shipping Lines (IRISL) in Iran due to the shipment of materials violating UN agreements, the falsification of documents, and other illicit trade. IRISL is also suspected of helping to advance Irans nuclear programs, along with using front companies to hide other actions. These sanctions prevent the associated parties from trading with IRISL.

In 2011 further sanctions were placed on an additional 10 shipping companies which may be linked to IRISL. Furthermore the "Manhattan DA Cyrus Vance released a 317-count indictment of 11 companies and five individuals" (AFP) associated with IRISL.

An article in Forbes uncovers a few ships that are still able to function even with the sanctions in place. Forbes looks at the Tour 2, an oil tanker, in particular. They mention that has been associated with five different countries and three different names, along with "at least three shell company owners in three different countries over the past year" (Forbes).

Even throughout these name and ownership companies the ship is still able to be tracked via it's International Maritime Organization (IMO) number which reveal the ownership and name changes, along with its location.

http://www.forbes.com/sites/claudiarosett/2013/01/29/a-tale-of-iran-syria-and-a-busy-oil-tanker/

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