Vessels Transit Strait of Hormuz Under New UN Evacuation Framework

Several vessels have navigated the Strait of Hormuz under a new United Nations evacuation framework, zerohedge.com reported. US Energy Secretary Wright stated that roughly 72 ships exited the strait in the last 24 hours. An IMO spokesperson confirmed on Wednesday that ships have begun to pass under the plan.

LSEG ship-tracking data showed at least two dry bulk carriers and one cargo vessel crossed the strait under the new program within a 12-hour window on Wednesday. Reuters analysis of LSEG and MarineTraffic data indicated at least 35 other commercial vessels are preparing to transit the strait.

On Tuesday the IMO stated the framework is intended to allow hundreds of vessels and roughly 11,000 stranded seafarers to sail through Hormuz.

IMO Secretary-General Arsenio Dominguez stated on Tuesday that the operation will be carried out in close cooperation with Iran, Oman, all other coastal states, the United States, and the maritime industry. Dominguez stated that safety guarantees have been secured and conditions for safe navigation have been verified.

Captains and crews have remained aboard vessels carrying tens or hundreds of millions of dollars in cargo during the blockade.

Oil tanker rates have risen since the U.S. and Iran announced a memorandum of understanding. One tanker was provisionally booked on Wednesday to ship crude from the Persian Gulf to India at a rate nine times the MEG-India benchmark.

South Korea’s Sinokor shipping group will provide one VLCC to carry up to 2 million barrels from the Persian Gulf to India. The IMO note issued Wednesday instructs vessels to wait for instructions before proceeding.