Luojiashan tanker sits anchored in Muscat, as Iran vows to close the Strait of Hormuz, amid the U.S.-Israeli conflict with Iran, in Muscat, Oman, March 7, 2026. REUTERS\/Benoit Tessier<\/p>\n
Asian\u00a0Shipowners\u00a0to Cross Hormuz Before Western Firms, Executives Say<\/p>\n
LAUSANNE, April 22 (Reuters)\u00a0\u2013\u00a0Asian\u00a0ship owners might begin to sail through the<\/p>\n
soon amid a fragile U.S.-Iran<\/p>\n
as they have a higher risk tolerance and can manage paying tolls unlike sanctions-complying Western firms, shipping executives said\u00a0at the FT Commodities Global Summit on Wednesday.<\/p>\n
Hundreds of tankers and other ships have been stuck inside the Middle East Gulf unable to cross the strait since the end of February, hitting global oil and liquefied gas supply in the world\u2019s largest ever energy supply disruption.<\/p>\n
Some tankers and cargo ships managed to escape the Gulf last Saturday, but Iran quickly\u00a0pulled the plug\u00a0on the move by firing shots and telling other vessels to return to the Gulf. At least three container ships were\u00a0hit\u00a0by gunfire in the strait on Wednesday.<\/p>\n
\u201cFor companies that are happy not to comply with OFAC sanctions, the safety part is still there. But, if that has been resolved by government to government communication, can the Indian navy send a convoy through, can a Chinese convoy go through? Yeah, probably so,\u201d Mercuria\u2019s global head of freight Larry Johnson said. OFAC is the U.S. Department of the Treasury\u2019s Office of Foreign Assets Control.<\/p>\n
The ships which have transited have tended to be government-owned vessels benefitting from government-to-government communications with Iran or naval support, which merchant traders do not have, he added.<\/p>\n
\u201cCertain parts of the world will be able to pass through and the odds are that in the next few weeks you\u2019re going to see more of that, and we won\u2019t be able to,\u201d said Peter Weernink, CEO of SwissMarine, listing Indian, Iraqi and Chinese vessels.<\/p>\n
Tehran has also sought to tighten its grip over the strait by\u00a0charging tolls\u00a0in conjunction with Iran\u2019s Islamic Revolutionary Guard Corps, a sanctioned entity.<\/p>\n
Increased costs and lingering safety concerns could continue to impact Hormuz traffic, said Andrew Jamieson, co-head of Gunvor shipping arm Clearlake, with the Advanced War Risk Premium set to rise in the short-term, and as crews may not be willing to take the risk, or seek higher payment to do so.<\/p>\n
\u201cIf your crew doesn\u2019t want to go, they don\u2019t need to go if they feel unsafe,\u201d he said.<\/p>\n
The global shipping fleet could react quickly to a reopening of Hormuz, Clarkson\u2019s Chief Commercial Officer Roger Horton said, even though many vessels left the Middle East in the wake of the crisis to take on business in the Atlantic Basin given high freight rates.<\/p>\n