Iran Says It Will Charge Service Fees for Ships Using Strait of Hormuz
Summary
- Iran said it plans to impose service fees on ships using the Strait of Hormuz.
- Market participants say Iran's new service fee system could affect global shipping and energy transport costs even if the Strait of Hormuz reopens.
- Investors are watching the outcome of US-Iran talks and changes to the strait's operating framework for their impact on international oil prices and global supply chains.
Forecast Trend Report by Period
Iran said it plans to charge service fees for ships using the Strait of Hormuz.
Fars News Agency reported on June 13 that an Iranian Foreign Ministry spokesman said Iran would have to charge for services provided in the Strait of Hormuz.
The comments came amid speculation that the US and Iran are close to an agreement.
Iranian Foreign Minister Abbas Araghchi had earlier said the management system for the Strait of Hormuz would not return to its prewar state, signaling possible changes in how the waterway is run.
The US government recently said a draft agreement between the two countries includes the reopening of the Strait of Hormuz. Iran, however, has indicated it intends to keep control over the strait's operation and management.
In the market, some see a new Iranian service-fee system as a potential driver of higher global shipping and energy transport costs even if the strait reopens.
Investors are also watching the outcome of US-Iran talks and any changes to the strait's operating framework for their impact on international oil prices and global supply chains.
