Iran and Kazakhstan to set up joint shipping line

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Industry website Trade Arabia has reported that the governments of Iran and Kazakhstan have signed an agreement to set up a new transcaspian shipping line to develop trade links between them. The two countries are reported to have signed over 60 bilateral agreements in recent months as Iran emerges from the hibernation of sanctions. The Iranian part of the deal will be managed by its state shipping lines IRISL, which recently relaunched its container shipping connection to Europe and is planning an order for several ultra-large container vessels (ULCVs) as it prepares to re-enter the deepsea shipping trades.