Hormuz Mine Clearing May Delay Shipping Traffic for Weeks
Maritime security sources indicate that clearing the Strait of Hormuz of potential naval mines could take up to 50 days despite a preliminary deal to end the conflict. Shipping firms and insurers require safety guarantees before resuming normal operations in the vital oil corridor.
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Iran and the United States reached a preliminary deal on June 11 to reopen the Strait of Hormuz, but mine clearing could delay normal traffic for 50 days. The operation involves conventional minesweepers and underwater drones to secure a waterway that previously handled 20% of global energy supplies. For investors, the delay threatens to keep tens of millions of barrels of oil offline as global stockpiles hit 23-year lows.
