Stranded ships begin transiting through Strait of Hormuz, says maritime data company | World

Major global shipowners have resumed transiting the Strait of Hormuz following the US-Iran agreement signed on Wednesday, according to maritime data firm Lloyd’s List Intelligence. The Strait of Hormuz is one of the world’s most critical maritime chokepoints for the transport of oil and natural gas, and its closure has triggered a historic energy crisis.

Iran-flagged oil tankers entered Strait

Speaking at a media briefing, Lloyd’s List Editor-in-Chief Richard Meade said that, for the first time in 110 days, vessels owned by major shipping companies have begun passing through the strategic waterway after effectively remaining stranded since February.

Lloyd’s List did not provide figures on the total number of vessels that have transited the strait since the agreement. 

Tankers controlled by major ship owners Grimaldi Group, Cosco, Knutsen and NYK have passed through the strait. And two Iran-flagged, National Iranian Tanker Company-owned, sanctioned crude oil tankers have entered the strait, according to Lloyd’s List.

Main central route still closed

Phillip Belcher, marine director of Intertanko, a trade group for global independent tanker owners, said the main central route of the Strait of Hormuz is still closed and has an estimated 80 mines that need to be cleared. But ships have been passing through the smaller northern route, which goes through Iranian waters, and the southern route, which goes through Omani waters.

“Those two routes now seem to be fully open,” Belcher said. 

US-Iran peace deal

Following days of intense talks and negotiations, the US and Iran have signed the peace deal to end the over three-month-long conflict in the Middle East, confirmed President Donald Trump on Wednesday (local time). The deal was signed digitally by Trump and his Iranian counterpart, Masoud Pezeshkian.

“It’s signed,” Trump told reporters while leaving Versailles. “I signed it in Versailles. Just signed it.”

Iran confirmed the deal has been signed, while insisting that it highlights the ‘failure’ of the US. It, though, cautioned that the real test begins now as the agreement now needs to be implemented. It is worth mentioning that the agreement will give the two sides 60 days to negotiate the final terms of the agreement.

“The text of the Islamabad Memorandum of Understanding was finalised with the signatures of the presidents — now it is time to test the implementation of the agreement,” Iran’s foreign ministry spokesperson Esmaeil Baqaei was quoted by state-run broadcaster Islamic Republic News Agency (IRNA) as saying.

The deal pave the way for reopening of the Strait of Hormuz, the critical waterway through which nearly one-fifth of the global crude transits. Under the deal, the US will also waive oil sanctions that have severely affected Iran’s economy.

Also Read: ‘This was not easy’: What Trump said moments before signing the Iran peace deal | VIDEO

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