Shipping Firms Cautious of U.S.-Iran Deal

Shipping companies welcomed plans to reopen the Strait of Hormuz, but expressed the need for more security assurances before resuming operations. The preliminary agreement aims to end the conflict between the United States and Iran and restore critical shipping lanes.

Since late February, following an attack by the United States and Israel on Iran, the strait has been largely closed. This closure has stranded numerous ships in the Persian Gulf, hindering the transport of oil and gas to global markets.

“There are a lot of questions that need to be clarified,” said S.V. Anchan, chairman of New Jersey-based Safesea Group. His company has two ships in the gulf, both of which suffered attacks since the war began. One ship remains inoperable due to significant damage, while the other is waiting to depart the gulf.

Mr. Anchan emphasized the need for assurances from Iran that vessels can traverse the strait safely. “We want to hear from the Iranians that they will not attack us,” he stated.

Andreas Enger, CEO of Norwegian shipping company Höegh Autoliners, expressed similar concerns. Despite the agreement’s announcement, he remains hesitant about restarting ship movements through the strait.

“But let’s hope that it is the start of the process that will get us there,” said Enger. He predicted it might take weeks or months to achieve sufficient trust to send ships back into the Persian Gulf. “There may still be uncertainties and unresolved issues that would drag this out even longer,” he added.