Iran has signed a partnership agreement with Singapore, aiming to develop a tanker service for shipping oil products and petrochemicals between East Asia and West Africa, a report said.

The agreement was signed between the Islamic Republic of Iran Shipping Lines (IRISL) and Singapore’s Pacific International Lines (PIL), reported The Iran Project.

The deal will boost Iran’s government revenues as well as expand the capabilities of East Asian shipping services, IRISL chief Mohammad Saeidi was quoted as saying.

The agreement calls for the establishment of feeder lines in Southeast Asia, South Asia, the Middle East and the Black Sea, the report cited other Iranian media reports.