Ships paying up to $2 million under new maritime services plan in Hormuz: Report

Vessels passing through the Strait of Hormuz are paying an average of $1.5 million to $2 million under a newly implemented maritime services plan, a report says. 

Mohsen Zanganeh, a member of parliament’s Planning and Budget Commission, was quoted by Fars News Agency as confirming the arrangement on Sunday.

It said the arrangement is being implemented by a body formed in cooperation with the Ministry of Economy and operating under the supervision of Iran’s Supreme National Security Council.

According to the report, not all payments are made in cash, with some settled through goods, services, or cryptocurrencies such as Tether, or barter arrangements.

The collected revenues are deposited into the national treasury and spent in accordance with the state budget, the report said.

The report comes as authorities previously said they were developing a regulatory framework to charge vessels transiting the Strait of Hormuz for maritime safety and environmental services.

According to economic analysts, the maximum potential annual revenue from transit fees could reach around $7.5 billion, but the real significance of the waterway lies in its strategic position rather than the direct income it generates.

According to International Energy Agency estimates cited in the report, a complete closure of the waterway could remove around 16 million barrels of oil per day from global markets.

IRGC Navy: 24 vessels passed through Strait of Hormuz under its coordination

The IRGC Navy says 24 vessels have passed through the Strait of Hormuz over the past 24 hours under security arrangements and coordination with the force.

As a major transit point for about 20 percent of global oil and liquefied natural gas shipments, the Strait has experienced unprecedented disruption over the past months.

This comes after the Islamic Revolution Guard Corps (IRGC) restricted access for aggressors and their allies following the US-Israeli attack on Iran on February 28.

In recent weeks, Iran has set up a new organization called Persian Gulf Strait Authority to vet ships and their cargoes and prevent hostile countries from using the Strait.

Tehran says it is prepared to gradually ease restrictions if it receives firm guarantees that US-Israeli attacks will not resume and that sanctions and the illegal blockade imposed by Washington on Iranian ports will be lifted.

Iranian officials, however, have indicated that shipping conditions in the Strait will not return to their pre-war status. They say restrictions will continue to apply to vessels owned by or affiliated with hostile states.

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