Iran May Charge "Insurance Fee" for Vessels Passing Through the Strait of Hormuz

BlockBeats News, June 20th - According to the Financial Times, the Iran's Ports and Maritime Organization has issued a document requiring all ships to have approval insurance from the organization to pass through the Strait of Hormuz. This insurance is free within the timeframe specified in the US-Iran memorandum of understanding and may be charged for in the future. This document is circulating among the shipping industry management.

The document states, "All ships must have a valid insurance policy approved by the Ports and Maritime Organization of the Persian Gulf," and currently, this insurance is "free of charge," but the organization "reserves the right to charge premiums in the future."