Iraq to Rebuild Shipping Fleet

20 January 2011 (Last Updated January 20th, 2011 18:30)

Iraq's Transport Ministry intends to invite bids from foreign firms to build a shipping fleet at the beginning of March. The country is planning to build ten ships including bulk cargo and container vessels at a cost of $110m. The fleet includes four bulk cargo ships, two co

Iraq’s Transport Ministry intends to invite bids from foreign firms to build a shipping fleet at the beginning of March.

The country is planning to build ten ships including bulk cargo and container vessels at a cost of $110m.

The fleet includes four bulk cargo ships, two container ships and one passenger vessel and the construction is expected to take two years.

In September Iraq signed a deal with Global Refinery of Switzerland to jointly operate 66 ships, providing Iraq with its first maritime fleet since the war, according to Reuters.