Strait of Hormuz ceasefire offers relief to trapped shipping. Over 800 vessels have been stranded in the Persian Gulf since late February when US and Israeli strikes prompted Iran to restrict access, creating a severe energy-supply disruption. A tentative US-Iran agreement now promises two weeks of safe passage, though critical details remain unclear. Trump announced a complete and immediate opening, while Iran cited technical limitations. Key uncertainties include transit payment terms and implementation timing. Shipowners express cautious optimism, but experts warn that resuming normal flows requires more than announcements. Insurers, crews, and operators need concrete assurance that risks have genuinely diminished before committing vessels to transit. In peacetime, approximately 135 ships cross daily, a number that has plummeted during the blockade.
