Shipping Companies Exercise Caution Over Hormuz Reopening
Shipping companies have expressed a cautious welcome to Iran’s announcement regarding the reopening of the Strait of Hormuz. However, they emphasize the need for further clarifications, particularly concerning potential risks like mines, before their vessels can safely transit this critical entry point to the Gulf.
Iran’s Foreign Minister Abbas Araghchi announced on Friday that the Strait of Hormuz was accessible to all commercial vessels during a 10-day Lebanon ceasefire accord. This declaration led to a decrease in oil and other commodity prices, while stock markets experienced a rise.
A senior Iranian official informed Reuters that all commercial ships, including those from the United States, are permitted to sail through the strait. However, their navigation plans must be coordinated with Iran’s Islamic Revolutionary Guard Corps. The official further stated that transit would be limited to lanes designated as safe by Iran, and military vessels would remain prohibited.
International Bodies and Industry React
Arsenio Dominguez, secretary-general of the United Nations shipping agency, the International Maritime Organization, stated, “We are currently verifying the recent announcement related to the reopening of the Strait of Hormuz, in terms of its compliance with freedom of navigation for all merchant vessels and secure passage.”
The Norwegian Shipowners’ Association highlighted several points requiring clarification before any ships could transit, including the presence of mines, specific Iranian conditions, and practical implementation details. Knut Arild Hareide, CEO of the association, which represents 130 companies and approximately 1,500 vessels, remarked, “If this represents a step towards an opening, it is a welcome development.”
Shipping association BIMCO advised its members to exercise caution regarding a return to the strait. Jakob Larsen, BIMCO’s chief safety and security officer, noted, “The status of mine threats… is unclear and BIMCO believes shipping companies should consider avoiding the area.” A US Navy advisory on Friday, seen by Reuters, echoed this sentiment, stating that the threat posed by mines in parts of the strait is not fully understood, and avoidance of the area by ships should be considered.
Major Shipping Lines Respond
German shipping group Hapag-Lloyd announced on Friday its efforts to enable its ships to sail through the strait “as soon as possible,” while acknowledging that several questions persist. The company added, “Our crisis committee is in session and will try to resolve all open items with the relevant parties within the next 24-36 hours.”
Danish peer Maersk confirmed it is closely monitoring the security situation and will act based on its risk assessment. France’s CMA CGM and Norwegian oil tanker group Frontline declined to comment.
Matt Wright, lead freight analyst at data intelligence firm Kpler, pointed out that a recent route imposed by Tehran through its territorial waters near Larak Island would present navigational challenges, even without a toll, and would raise questions regarding compliance and insurance.
US President’s Statement and Strait’s Importance
US President Donald Trump stated on Friday that Iran had agreed to never close the strait again and was in the process of removing sea mines from it.
As one of the world’s most crucial maritime chokepoints, any disruption in the Strait of Hormuz has historically compelled shipping companies to suspend sailings, reroute cargo, and rely on costly alternative solutions to maintain the flow of goods into and out of the Gulf.
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