Few Foreign Ships Seen in Hormuz Amid Reports of Iran’s Insurance Plan

Iran has moved a step further in its attempts to formalise its effective control over the Strait of Hormuz after the country’s top security organ announced the formation of a new body to manage the key passage.

With the Hormuz blockade now in its 13th week, ‌there are growing signs that major Asian importers are adapting to the new reality by striking direct arrangements with Gulf producers, often with Tehran’s consent, to allow vital flows of crude, chemicals and fertilizer through the Strait.

Tehran has launched a formal body to manage and charge ships for transit through the Strait of Hormuz in a highly-contested move as tankers pile up in the waterway and peace talks remain deadlocked.

That marked a sharp increase from the previous week, when just 19 vessels crossed — the lowest weekly figure since the first US-Israeli strikes on Iran on February 28, which led to widespread disruption of traffic through the strait.