Overview
- The Persian Gulf Strait Authority posted on Friday that all vessels must submit transit requests at least 48 hours before entering the Strait of Hormuz and that the PGSA will process permits and set routing rules.
- The PGSA said tariffs for security, safety and related Iranian insurance will be waived and covered by Tehran for the 60‑day window, but it also requires Iran‑approved insurance that it may charge for after the window ends.
- Maritime experts and industry groups say the security picture remains volatile because of mine threats and war‑risk insurance voids, which is deterring most shipowners even though about 20 tankers have transited and traffic is the strongest since June 2.
- The interim memorandum guarantees toll‑free passage for 60 days and leaves future administration to Iran, Oman and Gulf states, a setup the G7 has warned must respect freedom of navigation and that Washington says should not allow permanent tolls.
- The uneven restart is keeping oil and LNG flows below prewar levels, pushing up costs and accelerating Gulf plans for pipeline and port bypasses while mine clearance, verified insurance coverage and a final governance deal will determine whether commerce fully returns.