The Iranian foreign minister’s announcement on Friday that the Strait of Hormuz is “completely open” for ships that use an Iranian-prescribed route doesn’t give the shipping industry assurances to resume traffic through the strait, via WSJ citing analyst
The Iranian foreign minister’s declaration that the Strait of Hormuz is open might seem positive, but it lacks the clarity needed for the shipping industry to confidently resume traffic.
Iranian Military Official says military vessels are not allowed to pass the Strait of Hormuz, State TV reports; adds ships passing through the determined route need IRGC permission
Hapag-Lloyd (HLAG GY) on reopening of Strait of Hormuz, says now beginning to assess the new situation and risks it poses; for the time being, will refrain from passing through the strait
The Iranian foreign minister’s announcement on Friday that the Strait of Hormuz is “completely open” for ships that use an Iranian-prescribed route doesn’t give the shipping industry assurances to resume traffic through the strait, via WSJ citing analyst
US President Trump posts "THE STRAIT OF HORMUZ IS COMPLETELY OPEN AND READY FOR BUSINESS AND FULL PASSAGE, BUT THE NAVAL BLOCKADE WILL REMAIN IN FULL FORCE AND EFFECT AS IT PERTAINS TO IRAN"
US military blockade of Iran remains in effect, according to a US official cited by Reuters
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- The Iranian foreign minister’s announcement on Friday that the Strait of Hormuz is “completely open” for ships that use an Iranian-prescribed route doesn’t give the shipping industry assurances to resume traffic through the strait, an industry analyst said.
- “From the shipping perspective, it is certainly promising, but it doesn't immediately give anybody enough clarity to make any firm decisions,” said Richard Meade, editor-in-chief of Lloyd’s List.
This uncertainty could maintain elevated shipping costs or delays, affecting oil supply chains and broader market sentiment regarding geopolitical tensions in the region.
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