The Strait of Hormuz remains a significant uncertainty factor for shipping. Iran has introduced new rules for vessel passages and demands additional information regarding the ship, cargo, route, insurance, and ownership according to media reports.
Reports also mention possible fees of up to 2 million USD per transit. In some cases, payments in Yuan, Bitcoin, or USDT may also be possible. This is a delicate situation for shipping companies: those who do not pay may not be allowed to pass. However, those who pay risk issues with sanctions.
As a result, many shipping lines and tanker operators have reduced, postponed, or halted trips through the region. This affects not only oil and LNG, but also containers, spare parts, chemicals, and project cargo.
The situation remains tense. Prior to the escalation, around 125 to 140 vessel passages were counted daily. Currently, only a portion of normal traffic is flowing.
For freight forwarders and shippers, this means that shipments through the Gulf region must be carefully checked. Important factors include the shipping line, route, surcharges, insurance, sanctions, and possible alternatives.