Shippers are seeking clearer terms regarding the U.S.-Iran ceasefire before resuming transit through the Strait of Hormuz, following Iran’s warnings against unauthorized vessels. The ongoing six-week conflict had nearly halted traffic through this critical chokepoint, which accounts for about 20% of global oil and LNG shipments, resulting in a spike in global energy prices.
Iran has indicated it will coordinate safe passage with its armed forces, yet its coastguards have threatened to “target and destroy” any ships that attempt to navigate the strait without permission. While the first vessel has reportedly transited with Iran’s consent, major shipping companies remain cautious. Denmark’s Maersk acknowledged potential transit opportunities but emphasized the lack of full maritime certainty, while German carrier Hapag-Lloyd is waiting to see if the ceasefire holds before accepting new orders.
Interest in loading Gulf cargoes has increased among Asian refiners, particularly as these economies are heavily reliant on oil shipments through the strait. Britain has announced plans to collaborate with the shipping and energy sectors to restore confidence in the Strait of Hormuz.
