Troubled Taiwanese ocean carrier Yang Ming Marine Transport is reportedly halting its container service to Iran.
Several larger shipping lines began calling Iran after sanctions were lifted a year ago, and Yang Ming is the first foreign shipping line to abandon the route after the lifting of sanctions, according to a company source, Reuters reported.
According to Reuters, a Yang Ming executive said the firm had “ceased direct services to Iran on concerns of rising tensions there. We took into consideration the recent sanctions against Iran as well as the current geopolitical tensions in the region and what’s been going on between Iran, the U.S. and Europe.”
Yang Ming has been calling Iran just once a week, Reuters said.