Why Strait of Hormuz still hasn’t reopened to shipping traffic — despite Trump announcing Iran peace deal
Ships near the Strait of Hormuz are still not ready to cross after more than three months of being trapped by the war with Iran as they await more details for Friday’s scheduled reopening.
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After Washington and Tehran agreed to a memorandum of understanding on Sunday, the shipping industry signaled that pre-war traffic on the Strait of Hormuz can only be reached once all the details are out in the open.
As of now, there are far too many risks of attacks from Iran for the majority of ships to brave the strait, said Jakob Larsen, chief safety and security officer at BIMCO, one of the largest international shipping associations in the world.
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“The statements by the US and Iran are currently unclear and do not offer sufficient information regarding key aspects such as timings and safe routes,” Larsen said in a statement.
“Due to lack of details and a history of overly optimistic reassurances, we believe the security situation for the shipping industry remains volatile, and we still consider it very risky for ships to commence transits at this point,” he added.
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