Strait of Hormuz situation remain unclear despite US announcing ‘Project Freedom’

Conflicting reports of continued attacks on commercial and naval vessels have followed the US administration’s announcement of an initiative dubbed ‘Project Freedom’ to  help ‘guide’ ships that have been stranded by Iran's closure of the Strait of Hormuz.

No formalised details or advice to the shipping industry regarding ‘Project Freedom’ have been announced at this point, however, with BIMCO’s Chief Safety & Security Officer Jakob Larsen warning that “without consent from Iran to let commercial ships transit safely through the Strait of Hormuz, it is currently not clear whether the Iranian threat to ships can be degraded or suppressed.

“In view of the Iranian threats against any ship attempting to transit the Strait of Hormuz without coordination with Iran’s military, there is a risk of hostilities breaking out again if ‘Project Freedom’ goes ahead.”

Larsen adds: “It is unclear whether ‘Project Freedom’ is sustainable in the longer run or whether it will be a limited operation to get some of the trapped ships out.

The overall security situation for the shipping industry is currently unchanged, and our advice is for all shipowners to continue carrying out thorough risk assessments.”