Not “Strait-forward”

10 Apr 2026: The Strait of Hormuz will never be the same. Prior to the conflict between the US, Israel and Iran, not many people outside the oil & gas and shipping industries were familiar with the Strait of Hormuz, its location and its importance to the global economy. That has all changed. The effective closure of this narrow passageway that connects the Arabian Gulf with the Pacific Ocean has caused the largest energy supply disruption in history. The ceasefire that was announced on Tuesday has, so far, brought little change in the situation. Iran is limiting traffic to a trickle and appears to be charging vessels significant tolls before they can pass the waterway (dubbed the “Tehran Toll”). This begs the question: Even after all hostilities end, will the Strait of Hormuz go back to the way it was before, or will there be permanent changes that our industry will have to deal with? We will discuss some of the options in this week’s Tanker Opinion.