Tolls in Strait of Hormuz are causing a new shockwave in international shipping. Ships would now pay millions of dollars to leave the Persian Gulf through a 'safe corridor' established by Iran. This shifts the crisis from a blockade to a system where passage is possible, but only against payment.
According to various maritime sources, one container ship and several tankers have now taken advantage of this arrangement. The amount mentioned amounts to as much as $2 million per ship. This suddenly makes passage through one of the world's most important straits a costly affair.
The Chinese-owned container ship 'Newvoyager' is said to be the first vessel to pay a toll to leave the Persian Gulf. According to shipping site Lloyd's List, it was brokered by a Chinese maritime service provider, although exactly how the payment was made remains unclear.
What is certain is that the ship has now made the passage. Whereas earlier it was still anchored at the Iranian port of Bandar Abbas, it was spotted shortly after in the Gulf of Oman. With this, the system of paid passage seems to be already working in practice.
Tankers are also reported to have used the corridor. Lloyd's List speaks of at least two tankers that have paid tolls. At the same time, ships continue to try to pass through without payment, leading to an unclear and tense situation at sea.
The Strait of Hormuz, one of the world's most important chokepoints, handles millions of barrels of oil and large volumes of containerised cargo every day.
The $2 million toll was mentioned by Iranian MP Alaeddin Boroujerdi. According to him, "some ships" can use the passage for a fee. At the same time, a bill to introduce an official toll system for the narrow strait is being drafted.
Interestingly, the signals from Iran are ambiguous. While parliamentarians talk about tolling, the Iranian ambassador to India denies that there is any such system at all. This contradiction creates additional uncertainty in the market.
According to Lloyd's List, the Iranian Revolutionary Guard Corps has now established a "safe corridor" between the islands of Queshm and Larak. Ships wishing to use this must apply and are then assessed. This involves determining whether a ship is allowed to pass and whether a toll must be paid.
For logistics parties, this means a completely new reality. Passage is no longer taken for granted, but depends on political and military considerations. This makes planning and costing a lot more complex. Read more about the impact on international logistics on the sea freight page.
The impact of Toll in Strait of Hormuz extends beyond the region. Because a large part of global energy and freight flows through this route, the impact could be felt worldwide. Think rising tariffs, delays and re-routing of ships. More background can be found via the International Maritime Organisation.
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