The preliminary agreements mark Iran’s efforts to make a comeback in global shipping


ATHENS—Islamic Republic of Iran Shipping Lines and Iranian Offshore Oil Co. have reached preliminary deals with South Korean shipyards for orders valued at roughly $2.4 billion, people involved in the talks said Tuesday.

The agreements are part of Iran’s efforts to make a comeback in global shipping after the lifting of international sanctions earlier this year, but completing the orders will depend on financing that the Iranians haven’t yet secured, the people said.

“The yards are making slots available to the Iranians starting in 2018 and 2019,” one of the people said. “The Iranians are trying to make the 20% down payments through oil state-to-state deals to finalize the orders.”

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