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Persian Gulf Shipping Crisis: 500 Stranded Ships Face $6M Exit Fees

New York Times Business •
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More than 500 commercial vessels remain trapped in the Persian Gulf as the Iran conflict enters its 15th week, leaving approximately 11,000 sailors confined to ships without adequate supplies. Three commercial vessels were struck by U.S. forces this week alone, raising the death toll to 14 seafarers since fighting began. The psychological toll intensifies as crews watch real-time attack footage from their decks.

Shipowners face mounting financial pressure, with Heidmar Maritime Holdings and CMA CGM among operators losing hundreds of thousands of dollars daily. Insurance premiums for safe passage have surged to $6 million to $7 million per vessel. Despite higher tanker rates from rerouting around conflict zones, perishable cargoes are spoiling while ships idle.

Iran has offered safe passage for a fee, but U.S. and European sanctions prohibit companies with Western connections from paying. This has created unusual divisions in the shipping industry, with some Greek operators suggesting payment might be preferable to prolonged closure. The International Transport Workers' Federation reports increasing desperation among crews facing food shortages and unpaid wages.

The crisis threatens more than maritime safety—it endangers global trade flows worth billions. Even if hostilities cease, shipping executives warn the Strait of Hormuz may never return to prewar reliability, forcing permanent rerouting strategies that will increase costs for oil transport and global supply chains indefinitely.