Hormuz blockade: shipping industry slams transit fees as 20,000 seafarers still stranded

The International Chamber of Shipping (ICS) has strongly condemned the idea of imposing transit fees in the Strait of Hormuz, labeling it a "worrisome step in the wrong direction." John Denholm, chair designate of the ICS, emphasized that freedom of navigation is a cornerstone of free trade and that any such charges would be a "retrograde step." Speaking in Hong Kong, Denholm warned that implementing tolls in this vital waterway could set a dangerous precedent, potentially leading to similar charges in other critical global shipping routes. The ICS is adamant that fees for transiting the strait are unacceptable. Alongside these concerns, the ICS highlighted that its primary focus remains on the approximately 20,000 seafarers stranded in the Persian Gulf. The organization is actively collaborating with the International Transport Workers' Federation and Gulf governments to ensure these seafarers receive essential supplies and support. The proposed tolls emerged after an April 7 ceasefire agreement between Washington and Tehran, sparking worries that extend beyond the immediate region.

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Freedom of navigation has to be one of the pillars of free trade, and it would be a retrograde step – a really bad step.