The US and Iran on 7 April agreed to a two-week ceasefire deal, under which the Strait of Hormuz was theoretically to reopen unconditionally. In reality, little has changed with ships still largely unable to sail through the narrow waterway even after the ceasefire came into effect. Despite US statements that the strait must be opened in full, Iran insists that it remains in control and that all crossings must be coordinated with its military.
Amid this uncertainty, few shipowners are willing to take the risk. Without an immediate increase in maritime traffic through the strait, there is little likelihood that meaningful volumes will be evacuated from the Gulf before the ceasefire ends. (CONTINUED - 1034 WORDS)
