economy
March 13, 2026
What will it take for ships to start sailing through the Strait of Hormuz again?
March 12, 2026 / 4:14 PM EDT / CBS News
TL;DR
- Traffic through the Strait of Hormuz has plummeted from an average of 100 vessels per day to one or two after U.S. and Israeli attacks on Iran.
- The closure of the strait, which handles 20% of daily global oil shipments, is seen as a primary cause of soaring energy prices.
- Commercial ships are hesitant to navigate the strait due to perceived risk from Iranian drone attacks and a withdrawal of insurance coverage.
- Reopening the strait requires clear signals of safety, a sustained reduction in military threats, and a succession of successful crossings to assure operators and insurers.
- The U.S. offer of insurance and Navy escorts is viewed with skepticism by some shipping company CEOs, who prioritize the safety of their crews.
- Until threats are credibly lifted through a ceasefire or negotiated arrangement, meaningful numbers of commercial vessels are unlikely to return.
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