Stranded ships hoping for escape find a turbulent Strait of Hormuz
A preliminary agreement signed Wednesday by President
But on Friday, the next phase of talks between the countries, planned to be held in
Within
Oil prices, after falling sharply this week, rose.
On Friday, at least five tankers moved through the strait, and on Thursday, 25 ships transited, including 14 tankers, higher than the average of recent weeks, according to Kpler, a maritime data company. Most of the tankers took a route that hugs the Iranian coastline, the path used by sanctioned ships throughout the conflict. Traffic was still far below typical levels before the war, when about 130 vessels per day moved through the strait.
For shipping companies, and the 11,000 seafarers still stuck on vessels, a meaningful resumption of traffic in the Persian Gulf remained contingent on the resolution of a number of critical concerns. About 500 commercial vessels remained stranded in the gulf.
For most companies, certainty that vessels could pass was paramount.
One shipping executive, who asked not to be named out of concern for the safety of the stranded ship his company manages, said he deemed the conditions too uncertain for the ship to leave the Persian Gulf.
With the central part of the strait littered with naval mines, some executives said they were waiting for clarity about the route ships should take, the rules for getting in line and a process for exiting to avoid navigational risks, including collision, particularly amid interference with GPS and other satellite-navigation systems. There are two viable ways in and out of the Persian Gulf: the northern route, traversing Iranian waters, and the southern one, through Omani waters, which has been supervised by the
The directive raises questions whether international sanctions and anti-terrorism laws would allow shipowners to engage with
"There isn't really clarity over that one," said
Capt.
He said that "
Shipping companies were also dealing with practical issues. After being at a standstill in the Persian Gulf for more than three months, barnacles and sea creatures had grown on the hulls of ships, impairing speed and presenting operational problems.
On Thursday, the
This article originally appeared in The New York Times.


California is getting ready to increase a health insurance tax. Will it affect your premium?
‘ESG Hasn’t Gone Away’: Group Urges Trump, SEC To Rein In ‘Big Three’ Asset Managers’ Voting Power Long Term
Advisor News
- A rising retirement challenge: The license to spend
- Financial stress leaves less room for retirement saving
- Giving while you’re living: 3 frequently asked questions about gifting
- Helping clients prepare for one of their biggest retirement expenses
- Important year-end financial conversations every advisor must have
More Advisor NewsAnnuity News
- A rising retirement challenge: The license to spend
- What lower interest rates mean to annuity payouts
- AM Best downgrades A-Cap insurers amid financial and regulatory troubles
- Lawsuit claims Delaware Life hid billions in insurer-linked investments
- AM Best to Deliver Presentation at 2026 ACLI Annual Conference
More Annuity NewsHealth/Employee Benefits News
Life Insurance News