Shipping Firms Hesitate Over Hormuz Strait Amid Ceasefire Reports

Oslo, Norway – Shipping companies are expressing caution about navigating the Strait of Hormuz, even after reports emerged of a peace and 60-day ceasefire agreement between the United States and Iran. The crucial waterway, a vital chokepoint for global oil transport, remains a source of concern for the maritime industry.

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It is positive if there is now a political agreement that entails the reopening of the Strait of Hormuz, not least for the thousands of seafarers who have been in a very demanding situation over time. At the same time, many clarifications are still needed.

Over 20 Norwegian-affiliated ships are among hundreds of vessels currently held up in the Persian Gulf, awaiting clearance. Audun Halvorsen, Director of Safety and Preparedness at the Norwegian Shipowners' Association, described the situation as "positive if there is now a political agreement that entails the reopening of the Strait of Hormuz, not least for the thousands of seafarers who have been in a very demanding situation over time." However, he stressed that "many clarifications are still needed."

Halvorsen highlighted the significant uncertainties surrounding the details of any potential agreement and the framework for vessels to exit the gulf. He also noted that a previous promise of safe passage under "Project Freedom" by former US President Trump had little effect. "There remains great uncertainty regarding safety in the waters, including the extent of deployed mines in the main shipping lane," Halvorsen added.

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There remains great uncertainty regarding safety in the waters, including the extent of deployed mines in the main shipping lane.

The maritime insurance company Den Norske Krigsforsikring for Skib (DNK) shares this skepticism. CEO Svein Ringbakken warned that "it will take a long time before normalization." He explained that thousands of ships are trapped inside, and hundreds more are waiting to enter. Even with full capacity, restoring normal traffic could take months. Ringbakken pointed to production lines being halted due to storage limitations and damage to production facilities and port infrastructure, all of which contribute to inefficiency.

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It will take a long time before normalization. There are thousands of ships trapped on the inside, and hundreds will wait to get in. Even with full capacity, this will take months to restore to normal.

"If mines have been laid, there may be a need for mine clearance before traffic is restored to full capacity. This could take months," Ringbakken stated. The Norwegian Shipowners' Association agrees, with Halvorsen emphasizing that even with a genuine agreement to reopen the strait, the situation will have significant consequences for shipping for months to come. He described the process of safely guiding a large number of vessels out as a "comprehensive and demanding logistical operation" requiring close coordination between authorities, international organizations, and the industry.

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If mines have been laid, there may be a need for mine clearance before traffic is restored to full capacity. This could take months.