This new service is expected to generate a throughput of approximately 150,000 TEUs per annum, representing more than 10% of the Freeport’s existing business.

The Iranian shipping line is currently the largest commercial shipping company in the Middle East and ranks 25th in the world. The carrier has 11 new buildings on order which, when fully on stream by 2005, will offer an additional capacity of 25,890 TEUs.

Malta’s geographical location contributed to IRISL’s decision to come to Malta and confirms the Freeport’s position as one of the leading transhipment hubs in the Mediterranean.

The service is expected to come fully on stream during the next two months when six of the company’s new vessels will be deployed. The service will include weekly calls by two mainliners trading between the Middle East and Europe and three dedicated feeders connecting Malta to a number of ports in the Mediterranean.

This service will increase the number of ports served from Malta Freeport to 117 including new connections to the ports of Felixstowe, Bandar Abbas, Dubai, Mumbai and Tobruk. The dedicated feeders will also provide a reliable weekly service to a number of ports in Libya as IRISL has a strong presence in this region.