Shipping Companies Cautious About U.S.-Iran Deal, Seek Security Guarantees

Shipping Companies Cautious About U.S.-Iran Deal, Seek Security Guarantees

Shipping firms showed a cautious response to the preliminary agreement aimed at reopening the Strait of Hormuz. They emphasized the need for more security guarantees before resuming operations. Recent disruptions resulted from the conflict that began in February when the United States and Israel attacked Iran.

The closure of the Strait left hundreds of ships stranded in the Persian Gulf, unable to deliver oil and gas to global markets. S.V. Anchan, the chairman of Safesea Group, expressed concerns about safety. His company, based in Piscataway, New Jersey, had two ships in the Gulf, one severely damaged and not operational while the other awaited departure.

Anchan stated, “We want to hear from the Iranians that they will not attack us.” He requires assurance from Iran for safe passage through the Strait.

Andreas Enger, CEO of the Norwegian shipping company Höegh Autoliners, shared Anchan’s caution. He noted that the deal holds potential but isn’t enough for immediate resumption. “But let’s hope that it is the start of the process that will get us there,” Enger remarked.

Enger projected a delay of weeks or months before resuming navigation in the Persian Gulf. He acknowledged that unresolved issues might prolong the process further.

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