Maersk Line Halts Iran Service

Maersk Line Halts Iran Service

Container shipping company Maersk Line has stopped port calls to Iran, as Western business pressure, particularly from the shipping industry, intensifies, Reuters reported today.

Many of Iran’s container and bulk imports are transported by ship, including food and consumer goods, which are not targeted by European and U.S. sanctions. But shipping-related companies are pulling back from trade with Iran anyway, due to the complexity of the deals and the fear of losing business elsewhere, particularly in the U.S.

The unit of Danish group A.P. Moller-Maersk will maintain a dormant business entity in Iran, in case sanctions are eased in the future, a company spokesperson said.