Hormuz Blockade: Shipping Body Slams Transit Fees as 20,000 Seafarers Stranded

Hormuz blockade: shipping body slams transit fees as 20,000 seafarers stranded

The International Chamber of Shipping (ICS) has denounced proposed tolls in the Strait of Hormuz as a worrisome step in the wrong direction, while noting that several thousand stranded seafarers remain the international shipping community’s foremost concern. “Freedom of navigation has to be one of the pillars of free trade, and it would be a retrograde step – a really bad step,” said John Denholm, chair designate of the ICS, referring to the ide…

Iran to Accept Bitcoin for Strait of Hormuz Transit as Ceasefire Takes Hold

Iran plans to charge ships Bitcoin tolls to pass through the Strait of Hormuz, tying the cryptocurrency to a key global energy chokepoint. Iran plans to require shipping companies to pay transit tolls in Bitcoin for vessels passing through the Strait of Hormuz, according to a Financial Times report. This links bitcoin to one of the world’s most critical energy corridors and current events. The policy would apply to oil tankers seeking passage du…