Iran hopes ships seized in Malta, Hong Kong, will be released soon

The Chairman of the Islamic Republic of Iran Shipping Lines (IRISL) Mohammad Dajmar has expressed hope the two ships seized in Hong Kong and Malta will be released by next month.

The ships was declared impounded two weeks ago.

He told the Iranian news agency ISNA that the action had come about came Iran had borrowed $280 million from a German bank. He already said that the German bank had refused loan repayment by instalment. But Iran is in talks to lift confiscation of the ships by providing money domestically.

"We are pursuing the issue, we are still in talks and reaching an agreement to pay back the loan," Dajmar told ISNA.

He reiterated that the country did not want the ships to be sold by auction.

Three other ships seized in Singapore were released earlier this month. The ships named Sahand, Sabalan and Tochal were impounded due to financial problems.