Oil prices moved higher on Friday as uncertainty surrounding the reopening and future operating conditions of the Strait of Hormuz continued to unsettle energy markets. The latest market reaction follows proposals from Iran, reportedly being discussed with Oman, that could introduce strict conditions on vessels seeking to transit the strategic […]
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Global maritime trade is once again entering a period of heightened uncertainty after U.S. President Donald Trump announced the reimposition of a naval blockade targeting Iranian ports, effectively ending the temporary understanding reached with Iran just weeks earlier. The development significantly increases geopolitical risks in one of the world’s most […]
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The maritime industry is once again closely monitoring developments in the Strait of Hormuz after Iran announced that the strategically vital waterway is considered closed, citing alleged violations of commitments outlined in a Memorandum of Understanding (MoU) involving the United States and regional security arrangements. According to Iran, the basis […]
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Iran has announced a new maritime development near one of the world’s most critical shipping routes. The naval wing of the Islamic Revolutionary Guard Corps (IRGC) has introduced a designated passage known as the “Larak Corridor,” located between waters south of Hormuz Island and Larak Island. According to state media […]
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