Iran imposes mandatory insurance on ships transiting Strait of Hormuz, with fees likely to follow
Summary
Lloyd’s List reports that Iran’s Persian Gulf Strait Authority is imposing mandatory, Iran-approved insurance for ships transiting the Strait of Hormuz, with an initial 60-day toll-free window and potential future fees. The move conflicts with a US-Iran agreement on open passage and includes penalties for non-compliance, signaling tighter transit control and regulatory risk for shipping. The article notes industry concerns and ongoing international discussions on long-term governance of the strait.