We forecast that Iran will endure another year of recession in 2013, with real GDP set to undergo a contraction of 2.0% following our 2012 estimate of a 3.4% contraction. Container shipping is set to take another hit as since the introduction of strengthened US sanctions on July 1 all major shipping lines have now ceased calling at Iranian ports. Even regional shipping lines such as Simatech Shipping have now shied away from the market. As a result we now forecast an even greater decline in box throughput at Bandar Abbas, 25.0%, compared with our previous projection of an 18.0% …
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