First ships pass Strait of Hormuz since Trump-Iran ceasefire, but traffic remains low amid confusion
The first vessels have passed through the Strait of Hormuz since Iran and the U.S. reached a two-week ceasefire deal, ship-tracking service MarineTraffic said Wednesday.
But more than 12 hours into the ceasefire, overall traffic through the vital waterway has not picked up beyond the slow trickle it has experienced throughout the war, experts and industry professionals say.
Uncertainty and confusion in the maritime industry remain high, despite Iran’s assurance that vessels will be able to safely navigate the strait during the ceasefire.
That confusion stems in part from Tehran’s caveat that passage through the strait is only possible “via coordination with Iran’s Armed Forces and with due consideration to technical limitations.”
The potential for Iran to heavily toll ships is a key sticking point, a marine insurance executive, who did not want to be named on the record, told CNBC.
Iran is planning to demand that shipping firms pay tolls in cryptocurrency to let their oil tankers through the strait, the Financial Times reported Wednesday morning.
Iran will also be inspecting each ship for weapons, the FT reported, citing a spokesperson for Iran’s oil, gas and petrochemical products exporters’ union.
U.S. officials, boasting that the ceasefire agreement represents total victory over Iran, insisted Wednesday morning that the path for ships is clear.
“The strait is open,” Defense Secretary Pete Hegseth said at a press briefing. Joint Chiefs of Staff Chairman Dan Caine, asked at the same briefing if the strait is open right now, said, “I believe so, based on the diplomatic negotiation.”
