The proposed toll on vessels transiting the Strait of Hormuz, a key shipping lane, has sparked significant backlash from the shipping industry.
Executives from major shipping companies, including Hapag-Lloyd, argue that charging tolls for passage through international waters is fundamentally inappropriate, especially since the Strait is not a toll-based infrastructure like the Suez or Panama Canals.
The Baltic and International Maritime Council reported a sharp decline in vessel traffic, with only 14 ships crossing the strait recently, down from 37 a week prior. This decline could worsen if the toll is enforced, as increased costs may deter shipping companies from using the route. Jakob P.
Larsen, BIMCO's chief safety and security officer, noted that while the toll proposal aims to fund security, it could further disincentivize transit unless the threat from Iran is significantly reduced. The U.S. had previously opposed any tolls, including those proposed by Iran, which were deemed illegal under international law.
However, Trump's recent statements indicate a shift in policy, suggesting that the U.S. would act as the 'guardian' of the strait and seek compensation for ensuring safe passage. This has led to mockery from Iranian officials, who claim Iran has historically ensured the safety of the strait. The situation remains fluid and could have significant implications for global shipping and oil markets