Iran introduced new transit requirements for vessels passing through the Strait
of Hormuz, requiring ships to submit detailed information to the newly
established Persian Gulf Strait Authority before receiving approval for passage.
The move formalizes Tehran’s wartime control over the chokepoint, through which
about one-fifth of global oil and LNG flows. Shipping traffic has collapsed,
with Lloyd’s List reporting only 40 crossings in the week to May 3 versus a
prewar average of 120 daily. Matt Wright of Kpler said “normalization is not
achievable” under a long-term Iranian control scenario, estimating transit
volumes could remain at only 40%-50% of export capacity.
