Overview
- The International Maritime Organization has begun a large‑scale, phased operation to free more than 11,000 seafarers and hundreds of ships stranded around the Strait of Hormuz, with authorities contacting grouped vessels and assigning staggered transit days.
- Oman and the IMO published two temporary shipping corridors north and south of the damaged Traffic Separation Scheme and said transits will be toll‑free under the 60‑day memorandum between Washington and Tehran.
- President Donald Trump publicly reiterated Iran’s assurance that no tolls or charges will be levied during the 60‑day window and warned negotiations would end if that proved false, while denying any direct release of funds to Iran.
- Operations are constrained by continuing safety hazards, including mines and disabled routing lanes, and by insurance uncertainty, so ships will hold in designated waiting areas and move only after verified safety guarantees.
- Longer‑term disputes remain over who will administer the strait and whether fees will be introduced after the 60 days, with Pakistan and Qatar mediating talks and the outcome likely to shape shipping costs, insurance terms, and energy market confidence.