Iran’s parliament has approved a measure to close the Strait of Hormuz pending Supreme Council review, a move that could impact roughly 20% of the world’s oil supply . Such a closure, if executed, could drive oil prices above $100/barrel and severely disrupt global trade reuters.com+5washingtonpost.com+5news.com.au+5. However, analysts caution Iran lacks the capability—and legal grounds—to fully block the strait en.wikipedia.org+9washingtonpost.com+9nypost.com+9.

Safety/Shipping Impact:

• Urgent need for rerouting strategies and safety contingency plans

• Spike in tanker freight rates and maritime risk premiums

• Increased vigilance required by insurers and P&I clubs

📣 Final Note

SHIP IP advises all clients operating in or near the Gulf region to review safety management systems, coordinate with naval authorities, and ensure crew readiness under high-risk conditions.

📧 For custom routing or safety consultancy, contact: support@shipip.com