The Islamic Republic of Iran Shipping Line (IRISL) signed a memorandum of understanding with two Japanese logistics firms to cooperate on future port projects and investments in Iran's port terminals, according to Iran's state news agency.

IRISL signed the agreement with Tokyo Stock Exchange-listed Kamigumi and privately held Suzue. Captain Reza Amini, IRISL's president for Singapore and Malaysia, signed the agreement with Kamigumi managing director Toshihiro Horiuchi, and Masanobu Otsuka, head of marine logistics business at Suzue.