ShippingWatch

Skuld sees several risks for shipowners' Iran ventures

Although the Western world has now lifted most of the sanctions against Iran, a number of risks remain for shipowners wishing to do business in the country, insurer Skuld warns. Something as simple as payments could be problematic, Skuld tells ShippingWatch.

Shipowners around the world are zooming in on the Iranian market these days and have high expectations for business with the country. But even though the West lifted many sanctions this weekend, it is still important to remain cautious when doing business with the country, expalins Jonathan Hare, General Counsel at Norwegian marine insurer Skuld.

"It is definitely easier now for shipowners to do business with Iran. But it is complicated and there are still a number of risks involved, which they need to research thoroughly, before they make any decisions," he tells ShippingWatch, pointing to several factors that are still risky when entering into business with the country.

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