Iran Waives Hormuz Transit Fees for 60 Days

Iran's Strait of Hormuz Administration said Friday it will waive transit fees for commercial vessels during the 60-day negotiation period under the memorandum of understanding signed with the U.S. this week.

The measure suspends fees for security protection, safety procedures, environmental services, and associated insurance costs. Vessels must submit passage requests at least 48 hours before their expected arrival to allow the authority to manage traffic and avoid disruptions, Reuters reported.

Iranian authorities also warned that large areas of the strait remain affected by naval mines left from the recent conflict. Strict navigational guidance will be required to ensure crew and cargo safety, they said.

The waiver removes a cost layer that had been imposed earlier this year as tensions escalated. The Strait of Hormuz handles roughly 20% of global oil supply, and insurance premiums for transit had risen sharply after previous incidents. The 60-day exemption aligns with the negotiation window opened by the U.S.-Iran MOU.

Shipping companies and oil traders are now watching whether the temporary fee suspension signals a broader de-escalation or a tactical pause. The 48-hour advance-notice requirement gives Iran visibility into vessel movements, a condition that some operators said could complicate spot chartering.

The announcement came via Reuters on Friday. No further details on the negotiation timeline were released.