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Our Bureau

New Delhi , Sept. 6

THE Iranian national carrier, Islamic Republic of Iran Shipping Line (IRISL), has launched a new ex-India independent weekly service from Nhava Sheva (near Mumbai) to the UK , North Continent and West Mediterranean.

"IRISL foresees a lot of cargo potential from Indian market to Europe. They are interested in Indian trade and want to promote it ," trade sources said.

IRISL has deployed seven of its own container ships with capacities ranging from 2,200 to 2,500 twenty-foot equivalent units (TEUs) on the India-Europe sector. Out of this, six ships were built in 2004, while the remaining one was constructed in 1998.

Though not a member of the India/Pakistan/Bangladesh/Ceylon (IPBC) Conference, IRISL follows all the circulars issued by the Conference on rate hikes and other issues.

IRISL is charging a rate of $1350 per TEU from India to Europe, while the rate is almost double for a forty-foot equivalent unit (FEU). The new service is targeting a cargo of 1,000-1,200 TEUs from India, while the balance will come from Dubai and Iran, the source said.

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