An Islamic Republic of Iran Shipping Lines (IRISL) containership has been detained in Hong Kong over alleged loan defaults totalling $268m.

Sanctions are causing increasing problems for IRISL.
The 6,500-teu Decretive (built 2008) was held as a result of a dispute with four banks led by Hamburg based HSH Nordbank.

The vessel is legally owned by a Hamburg based KG fund, Sixth Ocean Gmbh, and managed by IRISL linked Hafiz Darya Shipping of Tehran.

IRISL