European shipping and offshore interests are pursuing business in Iran with news this week that MSC Mediterranean Shipping Company has resumed vessel operations to Iran, after services were suspended in 2012 in response to trade sanctions.

Further widening of the supply-demand imbalance at the trade route level and insufficient measures to reduce ship capacity will lead to an acceleration of freight rate reductions and industry-wide losses in 2016, according to the latest Container Forecaster report published by global shipping consultancy Drewry.