CMA CGM first to tie up with IRISL

In front of the leaders of France and Iran at the Elysee Palace, the heads of CMA CGM and Islamic Republic of Iran Shipping Lines (IRISL) signed a landmark deal yesterday that will see the two companies work closely together.

The deal inked between Jaaques Saade and Mohammad Saeidi covers vessel capacity sharing, joint operating of routes, and cooperation in using port terminals. It marks the first deal between an international line and IRISL since sanctions were lifted. CMA CGM senior executives were among the first to head to Tehran last year as it became clear sanctions would be lifted. IRISL has also held dialogue with other major boxlines, including MSC and Maersk.

CMA CGM and Evergreen were the first to resume direct services to Iran last August.

“The progressive lifting of sanctions should bring strong growth in trade between Iran and the rest of the world. This agreement opens new opportunities for CMA CGM to expand in this region,” CMA CGM said in a release.