Shipping

Ships Told They Can Use South Hormuz Route With Signals On

The Joint Maritime Information Center advised that ships can transit the southern route of the Strait of Hormuz at any time with their signals on, without mandatory coordination with the US navy. This guidance comes after a US-Iran peace deal took effect on Thursday, causing traffic to surge before easing due to uncertainty. The security threat level in Hormuz is now assessed as "moderate," down from "substantial," while crude prices have fallen more than 35% from their peak.