The Wednesday Wire - April 8th 2015

Iran and the P5+1 (USA, UK, France, China, Russia and Germany) have finally agreed on the framework for a deal, which will see international sanctions lifted in return for Iranian curbs on its nuclear programme.

Sanctions by the USA and the EU have held Iran's potential untapped markets back for many years now, and had a detrimental effect on the country's economy.

Restrictions on Iran's oil and gas exports hit the country particularly hard, and if the sanctions are lifted that industry and the industries affected by it, including the heavy lift and project forwarding sector, will no doubt be rubbing their hands with anticipation for upcoming projects.

There has, however, been some suggestion that the entrance of Iranian oil into the world mix could stunt the recovery of the falling oil price next year if the deal does go ahead in the summer. But the pace and volume at which Iranian oil will penetrate the market is not yet known.

There is still uncertainty around the deal and there are some that oppose an agreement, but after many months of negotiations progress has finally been made and Iran looks likely to be opened up to international markets, which will provide the opportunity for great investment into the resource-rich country.

In business

Lloyd Fonds falls at first hurdle

Lloyd Fonds' plans to inject 11 single shipowning entities through a non-cash equity offer in which limited partners would receive shares in the company have initially been unsuccessful.

Crowley joins Trident Alliance

Crowley Maritime Corporation joined the Trident Alliance, a coalition of shipping owners and operators with a common interest in the robust enforcement of maritime sulphur regulations.

ABC off to good 2015 start

AirBridgeCargo Airlines (ABC) posted a 20 percent increase in tonnage for the first quarter of 2015, carrying 103,816 tonnes across its international route network.

Alliance ups agency offering

Alliance Logistics has launched new shipping agency services in Morocco.

New partner for Air Partner

Air Partner has entered into a strategic partnership with AirCargoGroup (ACG).

Contractual obligations

Page & Jones in Airbus win

Airbus has awarded the import clearance and export services contract for its A320 family assembly line to Mobile, Alabama based logistics company Page & Jones.

Seaway secures Perla contract

Seaway Heavy Lifting has been awarded a contract by Cardon IV for the transportation and installation of the Perla project gas production platforms in Venezuela.

Capacity developments

Steel cut for Cosco giant

A steel cutting ceremony for Cosco Shipping Company's 90,000 dwt semi-submersible vessel Guang Hua Kou has been held at China's Guangzhou Shipyard International.

Leggat takes another Terex

Glasgow-based Leggat Plant has taken delivery of a Terex Explorer 5500 all terrain crane - the first model to arrive in the UK.

On the move

ISS enters Mozambique

Inchcape Shipping Services (ISS) has expanded its operations in Africa with the opening of a new office in Maputo, Mozambique.

Notable shipment

An ethylene fractionator column, measuring 87 m long and weighing 604 tonnes, has been safely loaded onboard Hansa Heavy Lift's vessel HHL Lagos at the Italian port of Ortona.