US-Iran Deal Grants 60 Days Toll-Free Hormuz Passage, Ships Hesitate
HMR•Shipping flows through the Strait of Hormuz remain at a fraction of pre-conflict levels, with nearly 300 loaded vessels idling in the Persian Gulf and roughly 250 ballasting on the Oman side. A US-Iran deal grants 60 days of toll-free passage under an Omani-coast navigation scheme, but mine risks and undefined oversight keep owners cautious.
1. Current Shipping Levels
Shipping flows through the Strait of Hormuz have plunged from a pre-conflict average of 135 daily transits to a fraction of that, with nearly 300 loaded vessels idling in the Persian Gulf and roughly 250 ballasting on the Gulf of Oman side. Recent easing of electronic interference has allowed clearer tracking of gradual, mostly nocturnal passages.
2. Toll-Free Passage Agreement
The US-Iran accord establishes a 60-day period of toll-free transit under a navigation scheme directing ships to hug the Omani coastline. Both Iran and Oman will decide future administration of navigation services, while the interim framework aims to reassure insurers and operators during overnight voyages.
3. Risks and Oversight Concerns
Shipowners cite the need for mine removal, definitive liability terms, mandatory reporting protocols and credible safety assurances before resuming full operations. Varied risk appetites—from cautious Japanese and Korean firms to more aggressive Greek owners—signal a phased normalization expected to stretch beyond the initial 30 days.
