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Shipping Industry Remains Wary Despite U.S.-Iran Agreement

Shipping industry remains cautious following a U.S.-Iran peace agreement, with firms reluctant to resume full operations through the Strait of Hormuz. Industry representatives indicate that trade volumes will not recover to normal capacity until next year, pending concrete evidence of safe passage for tankers in the Persian Gulf.

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Shipping firms remain reluctant to navigate the Strait of Hormuz sea passage despite this week’s peace deal, according to a boss of the industry’s lobby group who warned that trade volumes will not return to full capacity until next year. Peter Aylott, director of policy at the UK Chamber of Shipping, told City AM that firms would need to see a “fairly robust string of evidence” that tankers stuck in the Persian Gulf could leave free from before they would have the confidence to sail through the strait after the deal. “We’re…

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