Archive | Transport

Iran-Iraq Ferry Service Resumes

By John Lee. The Iraqi Ministry of Transport has that the ferry between Al-Ashar Quay on the banks of the Shatt al-Arab in Basra and the Iranian port of Khorramshahr has resumed after a three-year suspension. Forty-six passengers travelled on the first service on Saturday. The Director of the General Company for Maritime Transport, Abdul […]

US Targets Thai Company Supporting Iranian Airline

The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated Thailand-based My Aviation Company Limited for acting for or on behalf of Mahan Air, an Iranian airline previously designated for supporting Iran’s terrorism activities.  The action today was taken pursuant to Executive Order (E.O.) 13224, which targets terrorists and those providing support […]

BA, Air France to Stop Flights to Iran

By John Lee. British Airways (BA) and Air France have both announced that they will stop flying to Iran in September, saying that the routes are “not commercially viable.” According to a BBC report, the reintroduction of US sanctions has caused a slump in the value of the Iranian rial, making it harder for Iranians […]

Iraq to Reduce Visa Charges for Iranian Pilgrims

By John Lee. Iraq will reportedly reduce its visa charges for Iranian pilgrims later this year. According to the report from Associated Press, the reduction will only apply to pilgrims of the “Arbaeen,” the anniversary of the passage of 40 days after the death of Shiite Imam Hussein, the Prophet Muhammad’s grandson. Visas normally cost […]

French Shipping Group to Pull Out of Iran

By John Lee. French-based shipping group CMA CGM has announced that it is ceasing its Iranian operations, following the threat from the US to blacklist companies doing business with Iran. CMA CGM Chief Executive Rodolphe Saade is quoted as telling a press conference: “Due to the Trump administration, we have decided to end our service […]

Austrian Airlines drops Isfahan and Shiraz Routes

By John Lee. Austrian Airlines has announced that it will stop flights to the Iranian cities of Isfahan and Shiraz. In a statement, the company said: “Isfahan and Shiraz in Iran will already no longer be represented in the Austrian Airlines flight offering as of the middle of September 2018. However the traditional flight to […]

KLM to Suspend Direct Flights to Tehran

By John Lee. KLM Royal Dutch Airlines has said that it has decided to suspend its direct flights to Tehran “for the time being as of 24 September … for commercial reasons“. In a statement, the company said: “As a result of the negative results and financial outlook for the Tehran operation, the last flight […]

US Sanctions Mahan Air Service Provider

The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has designated Mahan Travel and Tourism Sdn Bhd, a Malaysia-based General Sales Agent (GSA), for acting for or on behalf of Mahan Air, an Iranian airline previously designated in connection with Iran’s support for international terrorism. GSAs such as Mahan Travel and Tourism […]

Russia Begins Work to Electrify Railroad in Iran

Russian Railways has begun works on the electrification of a railway line in Iran, the head of Russian Railways company said. The project, worth $1.2 billion, will electrify a railroad connecting the city of Garmsar near Tehran with Incheboron near the border with Turkmenistan. The length of the Garmsar- Incheboron railway line is 495km. The […]

Iran, Switzerland Ink Cooperation Deals

Iranian and Swiss officials on Tuesday signed three documents on cooperation between the two countries in scientific, medical, and transportation fields. Officials from the two countries signed the three documents after a meeting of high-ranking delegations in Bern, co-chaired by Iranian President Hassan Rouhani and his Swiss counterpart Alain Berset. The two sides signed two […]

Iran Manufactures First Domestic Rail Tracks

Esfahan Steel Company (ESCO) has announced that the first domestically-constructed rail tracks have been handed over to Iran’s Railways, saying the rails are on par with the latest global standards. ESCO announced on Monday that the first domestically-constructed rail tracks have been handed over to Iran’s Railways, the Medi Telegraph reported on Tuesday. The rail […]

Iran Rail signs Contract with Swiss Firm

Iran’s state-owned railroad company signed a contract with Swiss company Matisa for the maintenance and supply of railroad machines. According to the contract, Matisa, the Swiss manufacturer of track maintenance equipment that was established in 1945, will carry out the overhaul of two ballast machines in Iran. Apart from making repairs on nine other ballast […]

Truckers display new face of Popular Protest in Iran

From Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. On the first day of what quickly became Iran’s largest trucker strike in recent years, a driver told his audience on film, “Today, May 22, on the ring road of Kavar, we are making sure that […]

Pakistan to Launch Ferry Service to Iran

Pakistan is planning to launch ferry services from its Karachi port to Iran, the United Arab Emirates and Oman with an aim to enhance connectivity and provide more services to the people. According to the South Asian country’s Federal Minister for shipping Mir Hasil Khan Bizenjo, the draft Ferry Service Policy would be present at […]

Shipping Giant to cease Iran Business

By John Lee. Danish shipping giant AP Moller-Maersk has said it will cease operations in Iran following the reimposition of US sanctions. Chief Executive Soren Skou is quoted as saying: “With the sanctions the Americans are to impose, you can’t do business in Iran if you also have business in the U.S., and we have […]

Iran, Russia Agree to Boost Railroad Cooperation

Iranian Minister of Economic Affairs and Finance Massoud Karbasian and the director general of the Russian Energy Agency (REA), Anatoly Tikhonov, agreed to enhance cooperation between the two sides in various projects, including the Garmsar-Inche Bouroun railroad. “RZD International representatives as a part of the Russian delegation headed by Anatoly Tikhonov, Director General of the […]

Air France reduces Iran Flights

By John Lee. Air France is reported to be cutting its Joon service between Paris and Tehran to the summer season only. According to a report from Reuters, the company blames weak demand since it began operations two years ago. It’s Joon subsidiary was launched in December 2017 and is aimed at young people. (Source: […]

Iranian Airlines Buy 40 Sukhoi Passenger Jets

Two Iranian airlines have signed contracts with Russian aircraft manufacturer Sukhoi to purchase a total of 40 passenger planes. The Iranian companies, Aseman Airlines and Iran Air Tours, have signed the deals with Sukhoi on the sidelines of Eurasia Airshow 2018, which kicked off in Turkey’s Antalya on April 25. According to reports, Iran Air […]

Boeing ‘Defers’ Iran Deliveries

By John Lee. As US President Donald Trump considers whether to withdraw from the Iran nuclear deal, Boeing has reportedly re-allocated the planes it had planned to deliver to Iran this year to other customers. According to Reuters, Boeing boss Dennis Muilenburg told a conference call: “We have no Iranian deliveries that are scheduled or […]

Proton to Return to Iran

By John Lee. Malaysian automaker Proton Holdings will reportedly return to Iran. According to New Straits Times, Proton’s parent company set up Proton Motor Parsian Company (Ltd) (PMPC) on 10th April. The new company will assemble cars with completely knocked down and semi knocked down parts. (Source: New Straits Times)