Shipping companies remain cautious about resuming vessel traffic through the Strait of Hormuz despite a preliminary agreement between the United States and Iran aimed at reopening the vital waterway. Since late February, the strait has been effectively closed following U.S. and Israeli military strikes on Iran, leading to hundreds of ships being stranded in the Persian Gulf and disrupting the transportation of oil and gas to global markets.
The accord, expected to be signed in Geneva on Friday, seeks to ease tensions and facilitate safer passages through the strait. However, key issues such as Iran’s nuclear program have been deferred to subsequent negotiations, and the text of the agreement has not been publicly released. Iranian officials have yet to comment on the specific terms of the deal. U.S. President Donald Trump stated that the agreement would ensure the Strait of Hormuz remains “permanently toll-free,” though skepticism remains among industry stakeholders.
Major shipping firms have expressed a need for more clarity before dispatching vessels through the strait. S.V. Anchan, chair of Safesea Group, noted the company’s ships remain anchored after experiencing attacks during the conflict. He emphasized the importance of receiving explicit assurances from Iran that vessels would not be targeted. Similarly, Harry Vafias, CEO of StealthGas, which has had vessels stranded in the gulf for months, expressed cautious hope but tempered expectations about the deal’s immediate impact.
Several companies have highlighted logistical and security concerns that must be addressed before normal operations resume. Jakob P. Larsen, chief security officer at Bimco, the world’s largest shipping association, underscored the need for carefully coordinated ship movements to prevent accidents, suggesting that a neutral organization like the International Maritime Organization (IMO) should establish safe routes and exit sequences. Arsenio Dominguez, head of the IMO, called the agreement a positive step but noted that guaranteeing the safety of approximately 11,000 stranded seafarers would take time.
Navigational uncertainties also persist, including questions about safe passage routes amid concerns over mines and potential territorial complications. Pankaj Khanna, CEO of Heidmar Maritime Holdings, highlighted the dilemma about whether vessels should navigate close to the Iranian coast or the Omani coastline, with some recent transits occurring under Iranian permission or U.S. military escort.
Although a limited number of ships have entered the gulf in recent weeks, the broader maritime sector awaits more concrete details and security assurances from both Iran and the United States before committing to large-scale shipments. Andreas Enger, CEO of Norwegian firm Hoegh Autoliners, indicated that it might take weeks or months before companies regain full confidence in the strait’s safety despite the preliminary deal.
As the agreement advances, stakeholders remain focused on obtaining clear, enforceable guarantees that will enable safe and consistent commercial activity through this strategic maritime corridor.