Strait of Hormuz Mine Clearance May Take Weeks, Full Shipping Recovery Still Faces Delay Risks

BlockBeats News, June 15th. A Western maritime security agency report stated that even after the preliminary peace agreement between the US and Iran, it may take several weeks to fully clear the mines in the Strait of Hormuz and restore safe navigation, despite the easing of tensions.

The report indicated that mine-clearing operations with minesweepers and underwater drones could last for 40 to 50 days. During this period, shipping companies may still find it difficult to confirm safe passage, and large oil tankers may continue to wait before resuming navigation.

Jakob Larsen, Director of Security and Security at the International Shipping Organization BIMCO, said that the area is still considered a high-risk zone for the time being and in the near future. "The mine threat still exists, and a completely risk-free route must be established before normal passage can be restored."

Analysts pointed out that supertankers and their cargo can be worth up to $300 million, prompting shipping companies to adopt a cautious attitude until safety is fully confirmed.

Despite the delay in navigation resumption, the market's expectations for the peace agreement continued to drive down oil prices, with Brent crude and WTI falling by about 5%, dropping to around $83 and $80.5, respectively.

Meanwhile, US Vice President Pence stated that there are still many details to be worked out in the US-Iran agreement. The next 60 days of negotiations will focus on the verification mechanism and the path to lifting sanctions. He emphasized that the US has the "upper hand" in the negotiations and stated that the core of the agreement includes reopening the Strait of Hormuz and Iran abandoning its nuclear weapons program.