TEHRAN: Iran’s Parliament National Security and Foreign Policy Commission has approved a plan to charge fees for services provided to ships allowed to pass through the Strait of Hormuz.
Iranian media reported that the measure covers services including navigation, fuel supplies in certain circumstances, insurance, security and other maritime assistance.
Iran Sets Fees for Hormuz Services
Under the approved provision, vessels from countries permitted to transit the strategic waterway would pay Iran for the services they receive.
The charges could cover navigation and environmental services, along with fuel, insurance and security arrangements. Reports indicate that payments could be made in Iranian rials or other currencies.
The committee’s decision comes as tensions around the Strait of Hormuz remain high. The waterway plays a critical role in global energy supplies.
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Strait of Hormuz Faces Major Shipping Disruption
The Strait of Hormuz has seen a sharp decline in commercial shipping since the conflict involving Iran intensified.
Reuters reported that only seven commodity vessels passed through the strait on August 20, compared with 14 the previous day. Before the current crisis, the waterway carried almost 20% of global crude oil and liquefied natural gas shipments.
Iran has previously introduced mechanisms to regulate maritime traffic through the strait. Tehran has said that vessels using the waterway may be required to pay for navigation, security and other services.
New Fees Could Affect Global Trade
The latest move could add another layer of uncertainty for international shipping companies.
Higher costs for insurance, security and other maritime services could increase the expense of transporting oil and other goods through the region. Any further disruption could also affect global energy markets.
The Strait of Hormuz connects the Persian Gulf with the Gulf of Oman and the Arabian Sea. Its strategic importance makes any change in shipping conditions a major concern for energy markets and international trade.
