Firms in Fed’s Beige Book Fret Over Any Lengthy Baltimore Port Closure
(Bloomberg) — The closure of one of the East Coast’s busiest ports after the collapse of Baltimore’s Francis Scott Key Bridge has so far not led to broad price increases,...
Without verification from such bodies, ships are unable to call at international ports or secure insurance.
“We are now making arrangements to re-establish provision of classification services to existing tonnage and re-opening our Tehran office,” LR said in a statement, without providing further details.
LR, one of the world’s leading classification societies, suspended operations in 2012 when tougher sanctions were imposed on Iran. On Saturday, world powers lifted measures imposed on the Islamic Republic after a nuclear deal was reached last year.
LR previously provided classification cover for Iran’s top tanker company NITC and container and dry bulk group IRISL. (Reporting by Jonathan Saul; editing by Susan Thomas)
(c) Copyright Thomson Reuters 2016.
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