BIMCO sounds warning note on US-Iran deal

In a statement, the Chief Safety & Security Officer at BIMCO, Jakob Larsen, warns that: “The statements by the US and Iran are currently unclear and do not offer sufficient information regarding key aspects such as timings and safe routes. Due to lack of details and a history of overly optimistic reassurances, we believe the security situation for the shipping industry remains volatile, and we still consider it very risky for ships to commence transits at this point. We advise shipowners to continue doing thorough risk assessments and appeal to all parties to put the safety of seafarers first.”

“Ideally, the concept for resumption of maritime traffic would be directed by a neutral body like the UN. Such a concept would clarify matters such as safe routes, measures to separate traffic, sequencing of ships leaving the Gulf, reporting procedures, ship security procedures, procedures for naval protection and emergency response.”

“The next step is for shipowners to be reassured that transiting the Strait of Hormuz is not only permitted but also safe. Ships trapped in the Persian Gulf will be interested in leaving as soon as it is safe to do so. This must be done in a coordinated manner due to the confined nature of the Strait.”

“The threat of mines in the area remains a concern immediately as well as further down the line and mine-free routes need to be established. Credible assurances from both sides of the conflict must be given before traffic can resume fully to pre-conflict levels.”

Niels Rasmussen, Chief Shipping Analyst at BIMCO, adds: “According to Kpler, 600 ships remain trapped in the Persian Gulf, including around 250 tankers. We expect it will take several weeks for all ships to leave the Persian Gulf. We have seen an increase in ships transiting the strait last week, however, there is no indication that the announcement of an agreement has changed the situation yet.”