IMO condemns Iran\u2019s Hormuz attacks, calls for safe-passage framework<\/p>\n
International Maritime Organization member states May 19 passed another resolution to condemn Iran\u2019s attacks on merchant ships around the Strait of Hormuz following recent Iranian moves to formalize its control over the key energy chokepoint.<\/p>\n
During the UN agency\u2019s 111th Maritime Safety Committee session May 13-22, the UAE proposed the resolution to condemn Iran for \u201cunlawful activities\u201d to obstruct shipping activities at Hormuz, the Persian Gulf and the Gulf of Oman.<\/p>\n
\u201c[We] urged that all attacks on ships affecting innocent civilian seafarers be halted immediately,\u201d the UAE\u2019s resolution says, calling on IMO member states to secure adequate supplies for 200,000 seafarers on 1,500 ships stranded in Gulf waters.<\/p>\n
Following US and Israeli airstrikes on Feb. 28, Iran has blocked traffic through the Strait of Hormuz while allowing passage for its own tankers and a small number of ships. The waterway handles 20% of global oil trades in normal times.<\/p>\n
S&P Global Commodities at Sea(opens in a new tab) data showed that 11 ships transited Hormuz on May 18, all linked to Iran. Traffic was about 90% below pre-war levels.<\/p>\n
Nearly 40 ships have been attacked during the Middle East war while 11 seafarers deceased, according to IMO data.<\/p>\n
Based on the resolution, IMO member states should continue to seek to establish a safe evacuation framework to allow stranded ships to exit the Gulf \u201cthrough peaceful means and on a voluntary basis.\u201d<\/p>\n
Similar resolutions, aimed at adding more diplomatic pressure on Iran, have been passed by the IMO\u2019s Council, Legal Committee and Environment Protection Committee in recent months.<\/p>\n
Earlier this month, Iran established the Persian Gulf Strait Authority as the legal entity responsible for managing the Hormuz passage and requiring shipping companies to obtain permits from the authority.<\/p>\n
\u201cNavigation within the introduced boundaries of the Strait of Hormuz, which were previously determined by the Armed Forces and authorities of the Islamic Republic of Iran, is contingent upon full coordination with these entities, and passage without permission will be considered illegal,\u201d the PGSA said in an X post May 18.<\/p>\n
Separately, the Iranian government is developing an insurance scheme that will allow Iranian shipping companies to pay in bitcoin to cover their transits, generating $10 billion in revenue, the semi-official Fars news agency said May 16.<\/p>\n
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