In return for the ships SCI will take on liability for the joint venture's $88m of debt. The closure of the 39 year old JV between Islamic Republic of Iran Shipping Lines (IRISL) and SCI comes as the vessels have been struggling to secure employment and insurance in the face of continued economic sanctions on Iran from the West.
The dissolution of the company was announced earlier this month with assets expected to be divided according to the company's stakes in the JV, with IRISL holding 51% and SCI holding 49%.
SCI will purchase four of the vessels at market value whilst the remaining two ships will be bought at a reduced price.
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