More Details on Iraq's Giant Shipping Deal

We reported on Saturday that Iraq's Transportation Ministry has bought 66 ships from 'an international company'.

Further investigation shows that the ships will be leased for a 5-year period from the Swiss company Global Refinery. The Swiss firm will also provide extensive training for the Iraqi workforce, including specialized programs for technicians and engineers.

"There are more than a thousand maritime workers that have no job opportunities due to the lack of ships", said the Director General of Iraq's General Company of Maritime Transport, Wekala Ismat Amer [Ismat Jiad].

"The ministry of transportation and the General Company for Maritime Transportation are seeking to provide a favorable investment environment and create opportunities for the private sector to enter governmental projects."

According the Global Refinery, the contract involves "over 80 modern bulk carriers and related vessels. These vessels are all state of the art and none is older than 5 years".

(Sources: AKnews, Canadian Press, Global Refinery)

(Picture Credit: Global Refinery)

2 Responses to More Details on Iraq's Giant Shipping Deal

  1. John Nest 23rd September 2010 at 04:17 #

    What a surprise to find that a quick scratch under the surface of "Global Refinery of Switzerland" identies one of the Allawi family as the President of this recently set up business.

    One can only wonder how equitable the tender process was for this deal, not to mention how Iraq will ever shed the shackles of corruption if they keep allowing business to be conducted like this....

  2. [...] Iraq’s Transport Ministry leasing 66 ships [...]


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