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Trump says the Strait of Hormuz is "safe, secure and pristine." Shipping companies aren't convinced.
Shippers want firm security guarantees before resuming normal transits, as insurers and operators say the reopening remains risky and could take months.
- Washington and Tehran signed a memorandum of understanding on Tuesday to end their conflict, formally lifting restrictions on traffic in the Strait of Hormuz starting Friday.
- The closure of the Strait, which handles 20 percent of global petroleum supplies, disrupted fertilizer exports and drove up food prices worldwide; Iran imposed the blockade during the recent conflict.
- Despite President Donald Trump's assurance that the route is 'totally safe, secure, and pristine,' major shipping companies see transiting the waterway as 'very risky' until more details of the agreement emerge.
- Removing Iranian sea mines could take 40 to 50 days, according to industry sources, while a return to normal cargo flows will 'most likely take around three to four months,' Leon Schulz of Hapag-Lloyd said on Tuesday.
- With the deal set for ratification on June 19, BIMCO warns that mine-free routes must be established before vessels transit; analysts emphasize the agreement must be 'material' to restore shipping confidence.
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16 Articles
16 Articles
Trump Tries to Coax More Tankers Through Hormuz
“Trump administration officials are discussing ideas to kick-start oil tanker traffic through the Strait of Hormuz, including a plan that would offer a fee-based ‘VIP pass’ naval escort through the waterway,” Politico reports.“President Donald Trump and White House chief of staff Susie
·New York, United States
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Ships beginning to trickle through Strait of Hormuz — here’s how long it will take to return to normal
Ships are slowly trickling through the Strait of Hormuz following the initial peace deal signing between the US and Iran — but it will take more than two months for traffic to return to pre-war levels, experts warned.
·New York, United States
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Coverage Details
Total News Sources16
Leaning Left4Leaning Right2Center2Last UpdatedBias Distribution50% Left
Bias Distribution
- 50% of the sources lean Left
50% Left
L 50%
C 25%
R 25%
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