HDS Lines takes control of IRISL liner business.
HAFIZ Darya Shipping Lines now controls the container shipping services formerly operated by Islamic Republic of Iran Shipping Lines.
Informati0n about HDS Lines remains sketchy, but the change of ownership was completed a few weeks ago, with a new shareholder now in charge of the liner business.
HDS Lines is a completely separate company from IRISL and not a rebranding to circumvent sanctions, according to industry sources. Its assets include the trio of 6,500 teu containership newbuildings that ran into funding problems, possibly connected with Iran"s inclusion on the US Treasury backlist.
Two of those ships have now been delivered, with just Fourth Ocean still due to be handed over by Hanjn Heavy Industries.
The sale of some IRISL activities was part of a privatisation process, with the container business and breakbulk shipping now out of government hands. Privatisation is part of a long-term policy that dates back several years, with the container division one of the last to be sold off.
IRISL remains an investment vehicle in the maritime sector for activities such as terminals, inland logistics and training.