Hormuz transits halt

Commercial ship traffic through the Strait of Hormuz was at a virtual standstill on Monday, April 20, after gunfire, reversals and Iranian warnings stopped crossings through the waterway. (bloomberg.com) Bloomberg reported no commercial transits on Sunday, April 19, after at least 13 oil tankers turned back on Saturday when ships came under gunfire and Iran warned vessels not to cross. (bloomberg.com) The latest disruption followed a brief reopening announcement by Iranian Foreign Minister Abbas Araghchi, then another shutdown as tensions rose around a U.S. seizure of an Iranian vessel near the strait. (bloomberg.com) (apnews.com) The Strait of Hormuz is the narrow outlet from the Persian Gulf to the Gulf of Oman, and it handles a large share of seaborne oil and fuel exports from Saudi Arabia, Iraq, the United Arab Emirates, Kuwait, Qatar and Iran. (bloomberg.com) That made the shipping freeze more than a naval standoff: shipowners, charterers and cargo buyers were suddenly dealing with a route where passage, insurance and crew safety all changed hour by hour. India said insurers had begun tightening terms and granting cover case by case. (pmindia.gov.in) On April 18, India’s cabinet approved the Bharat Maritime Insurance Pool with a sovereign guarantee of 12,980 crore rupees to keep maritime coverage available for Indian trade during volatile conditions. The plan covers hull and machinery, cargo, protection and indemnity, and war risk. (pmindia.gov.in) Passenger ships moved faster than cargo. Cruise tracking reports said all six cruise ships that had been waiting in the Persian Gulf were clear of the bottleneck or already transiting it by April 19, after a short window opened. (cruisefever.net) (cruiseindustrynews.com) Some of those ships had been stuck for about 47 days, showing how quickly a narrow channel can trap vessels even when ports themselves remain open. (cruisefever.net) For now, the picture is a split one: cruise ships used a brief opening to get out, while commercial cargo traffic remained largely frozen as of April 20. (bloomberg.com) (cruisefever.net)