Iran has laid out an updated process for ships seeking to transit Hormuz, but several shipowners said they remained cautious about sending their vessels through until there are more details about the conditions that may be imposed.
Iran’s Islamic Revolutionary Guard Corps said Wednesday that “safe, stable passage” through the waterway will be possible with “new protocols in place.” That came soon after a report that the US had proposed a peace deal, which Tehran is now considering.
Iranian media have reported that shipowners need to send an email to an organization called the Persian Gulf Strait Authority if they want to send ships through the waterway. A form sent in response to applicants for transit through the strait from the organization’s email address, seen by Bloomberg, asks for details of the ship’s destination, origin country, current and previous flag registration, the value of its cargo and the nationalities of its crew.
However, five industry executives, including shipowners, vessel managers and security consultants, said that it was too soon — and too unclear — for crossings to resume. Two cited an attack on a container ship Tuesday as one reason to be wary.
The reopening of Hormuz is critical for the global oil market and the wider economy. Its effective closure has choked off hundreds of millions of barrels of supply and driven a surge in prices. US gasoline this week topped $4.50 a gallon for the first time since 2022.
A number of vessels transited previously with permission from Iran, following a prescribed route to the north of the strait that hugs its own coastline. However, observable sailings through the waterway have dropped sharply in recent weeks, after the US imposed a blockade on Iranian oil.
The updated instructions from Iran also followed a whiplash of news from the US over its plans for the strait, after President Donald Trump on Sunday announced a program to guide stranded vessels out of the Gulf, only to abandon it two days later.
“The shipowners I’ve spoken to have said they’ll believe it when they see it,” Halvor Ellefsen, a London-based director at Fearnleys Shipbrokers UK Ltd., said of the possibility of Hormuz traffic resuming. “It’s not the first time there have been public statements that were encouraging, only for them not to materialize.”
An official at one tanker company said they wouldn’t contact Iran for permission to transit, because they were wary about giving the authorities precise details of vessel movements.
International shipping association Bimco said it would need official confirmation of any new rules of transit before issuing any update of its safety guidance.
It’s still possible some shipowners will view the IRGC pronouncement as an opportunity to attempt passage.
The last time that public statements from Iran suggested an easing of tension, multiple ships tried to attempt transit, only to U-turn when it became clear that the waterway remained unsafe.
There was no immediate uptick in traffic observed on Wednesday, although any increase can take a few hours to emerge in ship-tracking data.
Top photograph: Vessels offshore in the Strait of Hormuz off Bandar Abbas, Iran on May 4, 2026; photo credit: Amirhossein Khorgooei/AFP/Getty Images
Related:
Copyright 2026 Bloomberg.
The most important insurance news,in your inbox every business day.
Get the insurance industry’s trusted newsletter
