Iran bitumen post the latest round of Sanctions against it and how it has touched some areas of the bitumen industry over the past several months. From prices, sales and to shipping…
One of the concerns impacting Iran’s Bitumen’s export was the well-known currency crisis alarm in August 2018, where Iranian currency once again suffered a record breaking devaluation which usually causes bitumen prices to fall. However; this time this side-effect was challenged with a new law where Export companies became liable for selling their foreign currency back to its respected government body at a lower exchange rates than that of the free market.
While Iran adjusted itself to this new ruling nearly all bitumen exports came to a halt for several months pending amendments to this new governing rule.
Iran Shipping today
Iran’s shipping abilities and shipping schedules have significantly been affected by an overwhelming demand as well. The earliest period IRSL will provide suppliers with a new booking is said to be at the end of January 2019. Many suppliers have begun recommending alternative means of transportation via foreign Shipping lines to their customers. Of course, the rate of a foreign shipping line is customarily higher than that of Iran’s well know shipping fleet IRSL but in the recent past using such means have become more advantageous than using IRSL.
Shipping rates have increased by both Iran’s shipping line as well as foreign shipping lines up to 1000 % in some instances. Many of the foreign shipping lines were forced to leave Iran and some of the very few that remained many have stopped shipping bitumen. IRSL Iran’s shipping line had had some delays in providing containers and since it is using a smaller transshipment port than before we are witnessing an average of 30 days more transit time on some distant voyages than before. Some None Vessel Only Common Carrier NVOCC service providers which are more expensive to use have made available containers, but they are mostly using IRSL as their mode of shipment hence the transit time does not improve. Before placing a booking Please study the exact routing of your containers, availability, and transit times.
Despite this heavy climate experienced bitumen suppliers and buyers alike are still working together. We are presently serving our customers on a case by case basis and providing them with the different available options. Part of our responsibility now is to provide newly evolving information to our clients and ensuring that the path which we are offering is completely safe and transparent.
*in certain unclear circumstances not attaining new business can be wise business decision.
*We supply you high quality road bitumen produced by the Gov. such as Jey Oil bitumen, Pasargad bitumen, or Privately Produced. (Some limits may apply based on Gov. Refineries’ pricing policy and availability of Containers for more information or clarity please contact us via WhatsApp messenger at + 98 912 101 6609 and speak to Mr. Aghili)