Tuesday, May 23, 2006

Iran Plans $5Bn Ship Investment

A senior manager at the Islamic Republic of Iran Shipping Lines has said that the country will need up to 500 ships over the next 15 years in order to maintain its regional position. The country will need up to 80 LNG ships in just the next few years to globally transport the gas produced from its fields. Iran is thought to be prepared to invest $5bn in tanker purchases.

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