Maritime leaders say US-Iran peace deal must provide clear framework for Strait of Hormuz transit

Maritime industry leaders meeting in Athens stressed that any peace agreement between the United States and Iran must establish clear regulations for passage through the Strait of Hormuz. Shipowners and officials gathered at a Capital Link conference and other events ahead of the Posidonia shipping exhibition, highlighting the critical need for predictable transit rules.

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What we need is obviously a framework, a set of rules, a regulation, whatever tells us exactly how we can go in and get out. So even if a peace deal was signed, that needs to be clarified, and that we don't know as yet.

"What we need is obviously a framework, a set of rules, a regulation, whatever tells us exactly how we can go in and get out," said Pankaj Khanna, President of Heidmar Maritime Holdings Corp. He noted that his company had a vessel stuck in the Gulf for three months, impacting seafarers who missed family events. Khanna emphasized that even with a peace deal, the operational guidelines for the strait need clarification.

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Can somebody predict (the end of the conflict)? Unfortunately, no. It has been proven that there is no prediction, and things get messy in terms of conflicts very, very easily, and they get untangled very, very difficult.

Greece's shipping minister, Vasilis Kikilias, reflected on the unpredictable nature of conflicts, stating, "Can somebody predict (the end of the conflict)? Unfortunately, no." He expressed hope for a resolution but insisted that free passage for global shipping is non-negotiable. Yiannis Procopiou, CEO of Centrofin Management, added that while insurance might be available, transiting the strait remains a high-risk proposition without clear rules of engagement between the US and Iran.

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We are hoping, of course, that there will be a solution. We cannot accept that there will be no free pass for ships all over the globe. I wish that they would leave shipping, the shipping industry, the seafarers, and global trade out of the equation, but it seems like this is impossible.