Iran has announced plans to introduce insurance-related fees for vessels transiting the Strait of Hormuz, a move that could increase shipping costs along one of the world’s most important oil and gas routes.
Gatekeepers News reports that the proposal is part of Tehran’s broader effort to tighten oversight of maritime traffic through the strategic waterway.
According to reports, Iran’s newly established Persian Gulf Strait Authority (PGSA) has made Iranian-approved insurance mandatory for ships using the strait. While the insurance coverage is currently being provided free of charge during a 60-day transition period, Iranian authorities say fees may be imposed once that grace period expires.
The Strait of Hormuz is a vital global shipping corridor through which a significant share of the world’s crude oil and liquefied natural gas exports pass. Industry stakeholders have expressed concerns that additional charges could raise transportation costs and create fresh uncertainty for international trade and energy markets.
Iran insists the measure is aimed at regulating vessel movements and enhancing maritime safety following months of regional tensions and disruptions to shipping traffic. However, some shipping groups and international observers argue that the proposed fees could challenge established norms governing passage through international waterways.
The development comes as negotiations continue between Iran, the United States and regional stakeholders over the future management of the Strait of Hormuz. Tehran has temporarily waived the proposed fees during the negotiation period but has maintained that it reserves the right to introduce insurance charges in the future.
