BIMCO is advising shipowners to remain vigilant regarding navigation in the Strait of Hormuz, stating that the security conditions for commercial shipping remain largely unchanged, despite U.S. President Donald Trump’s announcement of “Project Freedom” aimed at reopening this vital passage. Jakob Larsen,
BIMCO stated that no official protocols associated with “Project Freedom” have been communicated to the maritime industry. BIMCO further asserted that without Iran’s approval for safe passage, the safety risks to commercial vessels cannot be alleviated. Iran has previously warned that ships attempting to navigate the strait without Iranian military coordination may face repercussions, which could exacerbate tensions as “Project Freedom” develops.
Additionally, BIMCO expressed concerns regarding the sustainability of the initiative, questioning whether it can maintain long-term effectiveness or if it is merely intended to facilitate the release of trapped vessels. The cautionary stance follows reports of heightened incidents in the region, including an explosion affecting a South Korean ship and drone activity impacting an oil facility in the UAE. As a result, BIMCO reiterated the need for comprehensive risk assessments by shipowners until more reliable assurances of safe passage are established.
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