After the US announced a with Iran, all eyes are on the Strait of Hormuz to see if global trade can resume and ships can sail through safely. Here we consider the various permutations.
Passage control
Who controls the Strait remains as much a live issue today as it was when the conflict started at the end of February. Traffic has all but collapsed and only a handful of ships have passed since the ceasefire was announced. Those that are sailing are heading north, closer to the Iranian coastline, indicating Iran is maintaining control “via coordination with Iran’s armed forces with due consideration of technical limitations,” according to its Minister of Foreign Affairs. Maersk, the largest publicly traded shipping company, said the ceasefire “does not yet provide full maritime certainty and we need to understand all potential conditions attached.” With the US-led naval coalition plan failing to gain broad international support, Iran appears to have the upper hand.
Fees and cargo flows
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