Iran to establish petrochemical shipping firm
According to the plan put forward by Iran’s Petrochemical Commercial Company, petrochemical producers should collaborate on forming a joint shipping company to reduce shipment costs.
Iran’s domestic petrochemical producers reportedly spent $1.5 billion for the shipment of petrochemicals last year, which amounts to nearly 15% of the country’s exports revenue.
The country’s two major shipping firms include the Islamic Republic of Iran Shipping Lines (IRISL) and the National Iranian Tanker Company (NITC).
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