Greek-Owned Ships First to Cross Strait of Hormuz After Iran Ceasefire

The Strait of Hormuz has been effectively blocked due to escalating military tensions between the United States and Iran.

“MarineTraffic data tracking maritime traffic showed that a non-Iranian oil tanker passed through the Strait of Hormuz on Thursday, the first such crossing since the ceasefire between Washington and Tehran was announced”

DW

Tehran imposed tight restrictions after the war began on February 28.

DW

The Islamic Revolutionary Guard Corps Navy issued a warning about sea mines in the area.

Greek-owned ships were the first non-Iranian vessels to cross post-ceasefire.

Analysts cautioned it is still too soon to tell if this reflects a broader reopening.

The German Shipowners' Association called for security guarantees before resuming transit.

Shipping through the Strait of Hormuz will take several weeks to return to full normal operation.

A backlog of roughly 1,000 ships complicates the resumption of traffic.

eKathimerini

The U.S. Energy Information Administration warned that fuel prices could continue rising for months.

Rystad Energy projected that oil and gas production will take months to return to pre-war levels.

Brent crude fell as much as 16% after the ceasefire.

Iran floated the idea of charging ships for safe passage, with fees up to $2 million per tanker.

Iran still controls the strait despite the ceasefire.

“Resumption of activity in the Strait of Hormuz will take months despite the truce; prices are likely to fluctuate”

Invezz

The IRGC wants ships to sail through Iranian waters around Larak Island.

Transit fees have drawn condemnation from international leaders.

Mitsotakis told CNN the idea could set a very dangerous precedent.

Insurance remains a major challenge for shipping companies.