Evergreen calling Iran

India signed a 10-year contract with Iran to develop Chabahar Port, investing US$370m to enhance trade routes to Iran, Afghanistan, and Central Asia, bypassing Pakistan.

Iran released the crew of a seized ship linked to Israel, MSC Aries, however, the vessel remains under judicial detention, amid tensions in the region.

Iran’s Foreign Minister announced plans to release the crew of the MSC Aries, following its seizure in the Strait of Hormuz on April 13.

MSC Aries, owned by a company run by Israeli billionaire Eyal Ofer, has been seized by the Islamic Revolutionary Guard Corps.

The Washington (DC) headquartered World Shipping Council, which represents the interests of the world’s main liner shipping companies, has proposed a new pricing system that it believes can close the gap between the price of fossil fuels and green fuels.

The Ocean Alliance with its 40 services across the main east-west network would dominate in all trade lanes apart from the transatlantic.