Iran waives Hormuz transit fees for 60 days

Iran’s Strait of Hormuz Administration announced on Friday that commercial vessels will be exempt from transit fees for passage through the Strait of Hormuz during the 60-day negotiation period, under the memorandum of understanding signed with the US earlier this week.

In an official notice, the authority said vessels wishing to transit the strait while the temporary agreement remains in effect must submit passage requests at least 48 hours before their expected arrival to ensure the smooth management of maritime traffic and avoid operational disruptions, Reuters reported.

The Iranian measure includes the suspension of all fees related to security protection, safety procedures, environmental services, and associated insurance costs throughout the two-month period.

Iranian authorities also stressed the need for extensive advance coordination with transiting vessels to determine sailing routes and passage schedules accurately, citing the presence of large areas that remain affected by naval mines left from the recent conflict. The authorities said strict navigational guidance would be required to ensure the safety of crews and cargoes.