5/17/2018, 12:18 PM (Source: TeleTrader)
more TeleTrader news

Maersk ends Iran shipping after US sanctions

Shipping company A.P. Moller-Maersk said on Thursday that it will end Iran shipping, due to United States sanctions, AFP reported. Although the exit was confirmed, no specific timeline was given.

Earlier today, the company released a statement reporting 30% revenue growth, but underlined that "on the short-term performance, our result especially in the ocean related part of the business was unsatisfactory. In response to the current challenging market conditions we are implementing a number of short-term initiatives to improve profitability."

Meanwhile, France's President Emmanuel Macron said before the start of the European Union-Western Balkans summit in Sofia that European companies must be free to choose whether they will trade with Iran.

Breaking the News / BM