Oman sets up temporary maritime corridor for Hormuz transit

Oman has established a temporary maritime corridor for all vessels seeking to transit the Strait of Hormuz without paying a fee.

The corridor has been set up in coordination with the International Maritime Organization (IMO), the state-run Oman News Agency said in a social media post.

Vessels seeking to use the corridor will have to coordinate with the IMO, based on coordinates announced by the IMO and the Omani authorities.

The initiative aims to ensure freedom of navigation through the waterway without imposing transit fees, the post said.

The strait carried around a fifth of the world’s oil and gas supplies before the Iran conflict began on February 28.

Neil Quilliam, a Middle East expert at Chatham House and AGBI columnist, said earlier this week that Iran’s plans to require vessels crossing the strait to obtain insurance amount to a transit fee.

The insurance scheme would be provided free of charge during the first 60 days of the US-Iran memorandum of understanding signed last week, but fees could be introduced afterward, according to documents seen by maritime outlet Lloyd’s List.

Further reading:

• Fujairah emerges as strategic winner from Hormuz closure
• Shipping industry urges caution on Hormuz reopening
• Frank Kane: Trump’s Iran ‘deal’ means the Gulf pays for a war it didn’t want