Iranian Foreign Minister Abbas Araghchi said the ships would be able to safely pass through the strait within two weeks “in coordination with Iran’s armed forces and subject to technical limitations.”
According to estimates by the respected London-based industry publication Lloyd’s List, to which referred to Euronews, more than 800 ships are currently stuck in the waters of the Persian Gulf. Shipowners whose ships are there have reported that they are already preparing to start withdrawing them.
Key details remain unclear. Iran says it has agreed to two weeks of safe passage with “technical limitations,” while Trump has announced the “full, immediate and safe opening” of the strait.
It also remains unknown whether the sides have agreed on terms for transit payment and at what point the truce begins to take effect.
Neil Roberts, head of marine and aviation insurance at the Lloyd’s Market Association, said the ceasefire was good news but shipping companies would continue to suffer losses. Traffic volumes that existed before the war are unlikely to recover any time soon. The region will continue to be seen as a high-risk area.
Fees for passage
The official said Iran and Oman intend to charge ships a transit fee, with Iran planning to use the proceeds for reconstruction. Unconfirmed reports say a tariff of about $2 million (1.7 million euros) per ship is being discussed.
Iran’s parliament is debating a bill to enshrine the new fee system.
Since mid-March, the elite Islamic Revolutionary Guard Corps (IRGC) and its navy have effectively turned the strait into a toll booth, collecting fees, in some cases in Chinese yuan and cryptocurrency, in exchange for guaranteed safe passage.
In its history, the Strait of Hormuz has never been tolled.
