Photo by Anatoly Menzhiliy\/Shutterstock<\/p>\n
Shipowners Stay Cautious on Hormuz as Iran Says \u2018Contact Us\u2019<\/p>\n
By Alaric Nightingale, Weilun Soon and Grant Smith (Bloomberg) \u2013Shipping companies remain cautious about sending vessels through the<\/p>\n
, despite signs that Iran may be willing to reopen the channel.<\/p>\n
Iran\u2019s Islamic Revolutionary Guard Corps said Wednesday that \u201csafe, stable passage\u201d through the waterway \u2014 a vital passage for oil supply \u2014 will be possible with \u201cnew protocols in place.\u201d That came soon after a report that the US had proposed a peace deal, which Tehran is now considering.<\/p>\n
Details of the demands or restrictions Iran intends impose on shipping, and whether the US will accept them, remain unclear.<\/p>\n
\u201cThe shipowners I\u2019ve spoken to have said they\u2019ll believe it when they see it,\u201d Halvor Ellefsen, a London-based director at Fearnleys Shipbrokers UK Ltd., said of the possibility of Hormuz traffic resuming. \u201cIt\u2019s not the first time there have been public statements that were encouraging, only for them not to materialize.\u201d<\/p>\n
The reopening of Hormuz is critical for the global oil market and the wider economy. Its effective closure has choked off hundreds of millions of barrels of supply and driven a surge in prices. US gasoline this week topped $4.50 a gallon for the first time since 2022.<\/p>\n
Iranian media reported Monday that shipowners need to send an email to an organization called the Persian Gulf Strait Authority if they want to send ships through the waterway. A form sent to applicants for transit through the strait from the organization\u2019s email address, seen by Bloomberg, asks for details of the ship\u2019s destination, origin country, current and previous flag registration, the value of its cargo and the nationalities of its crew.<\/p>\n
Five industry executives, including shipowners, vessel managers and security consultants, said that it was too soon \u2014 and too unclear \u2014 for crossings to resume. Two cited<\/p>\n
an attack on a container ship<\/p>\n
Tuesday as one reason to be wary.<\/p>\n
An official at one tanker company said they wouldn\u2019t contact Iran for permission to transit, because they were wary about giving the authorities precise details of vessel movements.<\/p>\n
International shipping association Bimco said it would need official confirmation of any new rules of transit before issuing any update of its safety guidance.<\/p>\n
It\u2019s still possible some shipowners will view the IRGC pronouncement as an opportunity to attempt passage.<\/p>\n
The last time that public statements from Iran suggested an easing of tension, multiple ships tried to attempt transit, only to U-turn when it became clear that the waterway remained unsafe.<\/p>\n
There was no immediate uptick in traffic observed on Wednesday, although any increase can take a few hours to emerge in ship-tracking data.<\/p>\n
\u00a9 2026 Bloomberg L.P.<\/p>\n