Global shipping leaders say any peace agreement between the United States and Iran will not be enough on its own to restore normal vessel traffic through the Strait of Hormuz, as operators continue to demand clear security guarantees before returning to one of the world’s most critical trade routes.
Speaking at a maritime conference in Athens ahead of the Posidonia shipping exhibition, industry executives warned that uncertainty over navigation rules and regional security remains a major obstacle despite growing hopes for a diplomatic breakthrough in the Middle East.
For shipowners, the key issue is not whether a ceasefire is reached, but whether governments can provide a reliable framework that allows vessels to transit the waterway safely.
“What we need is obviously a framework, a rules regulation, whatever tells us exactly how we can go in and get out,” said Pankaj Khanna, president of Heidmar Maritime Holdings Corp. “So even if a peace deal was signed, that needs to be clarified and that we don't know as yet.”
The Strait of Hormuz is a vital artery for global energy and commodity shipments, making any disruption a concern for international trade, freight markets and supply chains.
Arsenio Dominguez, secretary-general of the International Maritime Organization, said maritime authorities are closely monitoring diplomatic developments, including reports of a possible temporary ceasefire.
“There have been... recent announcements that there's a possibility of a 60-day ceasefire,” Dominguez said. “If that includes, of course, the Strait of Hormuz, and I can get guarantees from the countries that it is safe to start using the waterway, that's where the evacuation framework immediately will come and kick in.”
He stressed that the immediate concern remains the welfare of seafarers operating in conflict-affected areas.
“That's what we're looking for, because the first objective is always to seafarers, to engage, so they can actually leave the conflict zone,” he added.
The prolonged tensions have already disrupted operations for several shipping firms. Khanna revealed that one of his company’s vessels has remained stranded inside the Gulf for three months, preventing crew members from returning home.
“Obviously the seafarers on board are missing out, not only on seeing their families but also on births, on deaths, on marriages,” he said.
Greek Shipping Minister Vasilis Kikilias acknowledged the difficulty of predicting when stability will return to the region.
He added that unrestricted access to major shipping lanes remains essential for the global economy.
“We are hoping, of course, that there will be a solution. We cannot accept that there will be no free (passage) for ships all over the globe,” he said.
Industry executives also cautioned that insurance coverage alone does not eliminate the risks associated with operating in the area.
Yiannis Procopiou, chief executive of Centrofin Management, said shipping companies remain reluctant to send vessels through the strait without clearer guidance on how potential confrontations between the US and Iran would be handled.
“While insurance might be available, this does not mean that the strait is really a place where you want to be transiting,” Procopiou said.
Despite the uncertainty, some industry leaders expressed confidence that a more durable solution could emerge if negotiations are given time.
“We all agree that the war should stop, should finish yesterday even... the consumer pays the price all around the world,” said Evangelos Marinakis, founder and chairman of Capital Maritime & Trading Corp.
He added that the industry could tolerate a short delay if it results in a lasting agreement that restores confidence in one of the world's most important maritime corridors.
