Iran has granted permission for ships transporting essential and humanitarian supplies to pass through the Strait of Hormuz to reach its ports. The authorization was issued by Iran’s Deputy Agriculture Minister, Hooman Fathi, in a letter dated March 1 to the Ports and Maritime Organisation (PMO). The letter specifically allows vessels carrying humanitarian goods, especially essential items and livestock inputs, to navigate to Iranian ports or those currently in the Gulf of Oman, following established protocols.
The Iranian government and armed forces have approved the passage of these ships, with a forthcoming list of approved vessels for coordinated facilitation. The Strait of Hormuz, which previously witnessed around 130 ships passing daily, now holds approximately 20,000 seafarers stranded on 2,000 ships, as reported by the International Maritime Organisation. Amidst recent tensions, only 292 ships transited the strait between February 28 and March 31, with a significant portion being linked to Iran.
The escalation of conflict in the Middle East has impacted global oil prices, with concerns arising over disruptions to crude oil transportation through the strait. This week, international benchmark Brent crude futures surged over six percent to 107.35 US dollars per barrel due to the uncertainty. Additionally, beginning April 17, Amazon will introduce a 3.5 percent fuel and logistics surcharge on merchants’ fulfillment fees in the United States and Canada, reflecting broader economic repercussions.
