Tehran opens sanctioned, fee?based shipping corridor in Strait of Hormuz

Iran has established an “approved” shipping corridor through the Strait of Hormuz, allowing select vessels to transit along routes within its territorial waters after prior clearance. According to Lloyd’s List, at least one tanker reportedly paid around $2 million for passage. At least nine ships have already used the corridor near Larak Island, where authorities linked to the Islamic Revolutionary Guard Corps verify vessels visually. Governments including India, China, Pakistan, Iraq and Malaysia are coordinating transit requests directly with Tehran. Lloyd’s List reports that Iran is formalising the system: shipowners must submit detailed ownership and cargo information in advance, often…