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Business News Today: Latest Business News, Finance News

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Shipping firms re-evaluate risks of Persian Gulf ops
BL Mumbai Bureau · 2026-06-16 · via Business News Today: Latest Business News, Finance News
Over 600 vessels are stranded in Persian Gulf since outbreak of hostilities in February-end. 

Over 600 vessels are stranded in Persian Gulf since outbreak of hostilities in February-end.  | Photo Credit: STRINGER

Shipping lines are re-evaluating the risk of operations in Persian Gulf waters in the backdrop of Iran-US peace understanding.

Companies including Maersk and Hapag Lloyd have said there are no changes in operations yet while welcoming the peace understanding.

“The latest developments give reason to hope that the security situation in the Strait of Hormuz will improve. We are reviewing the available information and are in close contact with the relevant authorities and our security partners. Our risk assessment for the transit of Hapag-Lloyd vessels through the Strait of Hormuz is currently under re-evaluation,” a company spokesperson said.

Maersk has welcomed the announcement but said it is too early to assess it’s impact on maritime operations based on available information.

Stranded vessels

Over 600 vessels are stranded in Persian Gulf since outbreak of hostilities in February-end. These include around 250 tankers. While peace announcement has brought cheer to the companies they remain cautious about quick resumption of transits.

Global shipping organisation BIMCO has said situation in Persian Gulf still remains volatile and ships transits through the region remain risky despite a peace understanding between the Iran and the US.

“Due to lack of details and a history of overly optimistic reassurances, we believe the security situation for the shipping industry remains volatile, and we still consider it very risky for ships to commence transits at this point. We advise shipowners to continue doing thorough risk assessments and appeal to all parties to put the safety of seafarers first,” Jakob Larsen, chief safety and security officer of BIMCO said.

“Ideally, the concept for resumption of maritime traffic would be directed by a neutral body like the UN. Such a concept would clarify matters such as safe routes, measures to separate traffic, sequencing of ships leaving the Gulf, reporting procedures, ship security procedures, procedures for naval protection and emergency response,” he said.

Published on June 16, 2026