Iran Controls Strait of Hormuz, Keeps Shipping Traffic at Standstill Despite Ceasefire

More than 24 hours after the ceasefire took effect, the Strait of Hormuz remained effectively closed to most commercial traffic.

Marine traffic monitors reported just a handful of vessels transiting under strict Iranian control.

Al Jazeera

The White House asserted the strait was open while Iran continued to move to consolidate its control.

Iran's military command said ships must navigate on its prescribed route for safety and in collaboration with the Iranian navy.

The disruption has stranded hundreds of vessels, including more than 180 laden tankers.

The CEO of Abu Dhabi National Oil Co. said the strait is not open, stating Access is being restricted, conditioned and controlled.

Iran has insisted that ships must secure its permission to transit the strait.

Reports indicated Iran could ask for one dollar per barrel of oil, to be paid in cryptocurrency.

Al-Taqah

The International Maritime Organization stated there is no international agreement where tolls can be introduced.

The so-called Tehran tollbooth requires ships to provide documentation and sometimes payment to the IRGC.

The majority of ships sailing through the strait have an Iranian nexus.

Shipping companies and tanker operators remain cautious.

“Ship traffic through the Strait of Hormuz has remained at an effective standstill in the 24 hours since Iran conditionally lifted its blockade on the critical shipping lane, amid a fragile ceasefire with the US and Israel”

Australian Broadcasting Corporation

None of the major carriers has moved their vessels.

Insurance premiums have skyrocketed.

Many charterers have rerouted or delayed cargoes.

It will be a prolonged period before any semblance of normalcy returns.