Hapag-Lloyd Reports Increased Risks in Strait of Hormuz Due to Ongoing Conflict

Hapag-Lloyd, a German shipping company, stated that the Strait of Hormuz is experiencing a 'new normal' of heightened risk and uncertain regulations due to escalating military strikes and conflicting routing directives. The company reported that Iran has begun moving approximately 4.12 million barrels of crude oil from Kharg Island, marking a resumption of exports after a pause. Hapag-Lloyd spokesperson Hanja Maria Richter emphasized the need for constant vigilance and risk assessments for vessels operating in the region. The U.S. Central Command has conducted airstrikes against Iranian targets, leading to retaliatory actions from Iran's Islamic Revolutionary Guard Corps. The situation has resulted in a divided transit system in the strait, with routes controlled by Iran and those protected by U.S. forces. Richter also criticized any potential attempts to impose fees for passage through the Strait of Hormuz, asserting that it would be inappropriate to monetize access to international waters. Hapag-Lloyd has successfully managed to navigate initial disruptions in the strait, prioritizing the safety of its crews.