The rise of democrats in the recently concluded US Presidential elections
gives scope of review of Trump regime's sanctions against Iran including
revival nuclear accord with Iran. These developments though may follow in long
term, means bonanza for the terminals India has built at the Chabahar, the
facility that would help India to trade with Afghanistan by passing Pakistan
besides opening new trade routes to Central Asia
imminent regime change is a very positive development for India and Iran
Overall, the imminent regime change is a very positive development for
India and Iran, and both the countries look forward to this change to translate
into action and further softening towards Iran, according to sources in the
shipping ministry. Chabahar port project was the “only bright spot” in
India-Iran relations over the past few years, and the “momentum it got should
continue”, he said. India has stopped sourcing crude from Iran for the past two
years implementing the US ban.
Ever since the terminals built by India were commissioned at Chabahar port,
US imposed sanctions against Tehran and disallowed purchase of crude from the
Persian gulf country. Though the port was exempted from the purview of
sanctions, both the work at the terminals and volumes handled suffered a setback
since international suppliers and banks were not willing to back the project.
Shipping industry in
the country was looking for a regime change of guard in Washington
Shipping industry in the country was looking for a regime change of guard
in Washington and now that it has happened it has been a sigh of relief for
them. But analysts say it would take long for Biden regime to lift sanctions
against Iran as it involved bureacratic hurdles.
“For Chabahar terminals to develop further, we need certain equipment, which
neither Iran nor India makes. These are basically from western countries or
from South Korea and China and they are reluctant to supply. How comfortable
the equipment suppliers are to supply to Iran and how banks view transactions
where Iran is involved are the key ithe possues. Banks and suppliers must get
comfort that the new regime will not penalise before lending funds for the
Iranian Port & Marine Services Company (ABI) signed a deal in May 2016
to equip and operate the container and multi-purpose terminals at Shahid
Beheshti – Chabahar Port Phase-I – with a capital investment of about one
hundred million us dollars.
The first phase of Shahid Behesthi Terminal of Chabahar has been taken over
by India Ports Global fromDecember 2018 and is operational. The civil work
of entire terminal is over. IPGL is in possession ofabout 1,400 metres
of berth length with 14-16 metres draft.
operations, Chabahar has handled nearly 20 lakh tonnes of cargo
Since starting operations, Chabahar has handled nearly 20 lakh tonnes of
cargo, which includes bulk, container, livestock and general cargo, using the
ship’s crane.The full-fledged operation is waiting for erection of quay cranes for
loading and unloading cargo.