Hormuz Stays Blocked for Now as Hundreds of Ships Seek Exit 1 / 2 [Yahoo! Finance Canada]
A.P MOLLER-MRS UNS/ADR (AMKBY)
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Source: Yahoo! Finance Canada
vital waterway following a ceasefire between the US and Iran that was announced overnight. A total of seven ships were seen exiting the region since Tuesday morning, while three vessels entered, tracking data compiled by Bloomberg show. Total peace time transits stood at about 135 a day last year. More than 800 freighters are stuck inside the gulf, mostly waiting to leave. While shipowners and insurer groups lined up to welcome the ceasefire, they also warned that more details will be needed to determine if safe transit is possible. Iran has said a precondition of the ceasefire is that its armed forces should coordinate navigation through what is the world's most important oil channel. Tehran has also been charging a toll of as much as $2 million a transit for some carriers. “Time will tell whether it is a pause or a peace but, in the meantime, it is highly unlikely that trade into the Gulf will simply resume,” said Neil Roberts, head of marine and aviation at the Lloyd's Market
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