Precious Shipping Pcl, the Bangkok-based shipper whose vessel was hit by Iranian projectiles in March, remains cautious about navigating the Strait of Hormuz despite recent ceasefire developments. Managing Director Khalid Hashim cited conflicting signals from the US and Iran as reasons for continued wariness about one of the world's most critical maritime chokepoints.

The company's Thai-flagged Mayuree Naree was struck while transiting the area in early March, resulting in the death of three crew members. While war-risk insurance limits the financial impact on the vessel, Precious Shipping still has one ship stranded in the region, highlighting ongoing operational risks in Middle Eastern waters.

Hashim expressed optimism about the longer-term shipping outlook, noting that freight rates over the next three to five years are likely to remain very strong. He pointed to tightening supply outlook and aging vessels as structural factors supporting the sector despite current geopolitical uncertainties.

The cautious approach from Precious Shipping reflects broader industry concerns about navigating high-risk zones. Even with diplomatic de-escalation efforts, shipping companies face difficult decisions about route safety versus economic necessity in key energy transit corridors.