UANI

"Earlier this month, two South Korean shipping companies said they had suspended importing Iranian crude due to a separate EU embargo set to come into force from July . . . Hyundai Merchant Marine said it had not carried any Iranian crude for Hyundai Oilbank in June. SK Energy and Hyundai Oilbank are the only Korean refiners still importing Iranian oil. They said the suspension was temporary as Seoul seeks an exemption from the EU measures." (France 24, "S.Korea reports sharp fall in Iran oil imports," 6/25/12)

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"Hapag-Lloyd's previous Bandar Abbas service had been jointly operated with South Korea's Hyundai Merchant Marine. A source familiar with the matter said Hyundai had reduced its shipping service to Iran and was closely monitoring the situation. 'Hyundai's vessels, however, en route via Bandar Abbas do not contain any refinery or nuclear-related products since those items are blacklisted,' the source said." (Reuters, "Sanctions blowback crippling Iran's shipping trade," 12/1/2011)

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Hyundai Merchant Marine is a container shipping company, part of the conglomerate Hyundai Group. It is an "integrated logistics company, operating around 160 state of the art vessels" (Company Website).

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After a ten year hiatus, Hyundai Merchant Marine resumed shipping to Iran through the port of Bandar Abbas (Business Monitor - "Hyundai MM Enticed Back to Iran After 10 Years", 5/25). Hyundai Merchant Marine's website gives addresses and contact listings for offices in Tehran and Bandar Abbas (Company Website).

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In the past, Iran has used foreign-operated vessels to ship weapons caches (Business Monitor - "Hyundai MM Enticed Back to Iran After 10 Years, 5/25).