The Strait of Hormuz has been closed again, with few ships leaving the waterway. This critical channel is a major shipping route, and its closure has significant implications for global trade.
Background
Even before Iran announced the closure, ship operators had pulled back on sailings through the channel. On Thursday, 25 ships traveled through the channel, according to data from marine intelligence firm Kpler. However, the number of tankers fell back to single digits on Friday after the first round of talks between Iran and the United States was canceled.
Nearly 500 ships, including 220 oil tankers, have been trapped in the Persian Gulf since the start of the war. Despite the signing of a ceasefire agreement, experts agree it will take months for ship traffic and oil flows to get back to normal.
Challenges Ahead
Ship operators are feeling hesitant due to uncertainty about where it’s safe to sail and the proper procedures for passage. The central part of the Strait is mined and unnavigable, and only the inshore traffic zones close to Oman and Iran are reportedly free of mines.
There are also concerns about maritime insurers, who have yet to declare they will cover damage from war risk. Practical issues, such as whether ships are still seaworthy after being anchored for more than three months, also need to be addressed.
Original reporting: KEYT (Ventura/Santa Barbara) — read the source article.
