The insurance policy required by Iran is currently free, but could involve charges in the future, the country’s Persian Gulf Strait Authority said,

Tehran says fees to cover cost of managing waterway will come into effect at end of 60-day negotiation period

Iran has announced plans to introduce maritime transit fees for ships passing through the Strait of Hormuz within two months, following a 60-day negotiation period triggered by…

Iran is considering charging a mandatory insurance fee to ships crossing through the Strait of Hormuz in the future. As part of the memorandum o...

This development raises concerns for the shipping sector about safe navigation. Iran's new requirements and possible insurance charges could undermine international maritime…