Iran expands transport networks and manages maritime security risks

Iran is pursuing strategic logistical and diplomatic initiatives to expand its regional connectivity and maritime influence. To diversify access to European markets, Iran is developing a multimodal transport network via Armenia and Georgia. This includes the North-South Transport Corridor, where construction on the 32-kilometer Gacaran-Agarak section is over 40 percent complete, with a target completion date in 2027.

In the maritime sector, tensions in the Middle East are driving up oil tanker charter rates. Supertanker daily rates for routes from the Persian Gulf to China have approached $500,000 as shipowners avoid the Hormuz Strait due to security concerns. This volatility has impacted market liquidity and led to legal challenges against the Baltic Exchange regarding market indicators.

Domestically, Iranian Foreign Minister Seyyed Abbas Araghchi has briefed the Iranian Parliament on the convention regarding the legal status of the Caspian Sea. Discussions also covered bilateral relations with neighbors, mediation efforts involving the United States, and economic diplomacy regarding the Hormuz Strait.