Tankers Navigate Hormuz Strait Following Us-iran Agreement
WHO:
BBC News - US Secretary of State Marco Rubio warned Iran that no country can charge fees for ships to travel through the Strait of Hormuz.
Newsweek - Trump stated, “I have agreed to allow the Hormuz Strait to remain OPEN, with no further Naval Blockade,” on Truth Social.
Bloomberg - Ellen Fraser, Partner and Energy expert at Baringa Partners, discusses the recent moves in oil.
WHAT:
Bloomberg Markets - Iran and Oman announced they will begin work on finding an agreement over the future administration of the Strait of Hormuz, including the cost of managing transit, as traders and shipowners fret over the prospect of the introduction of a tolling arrangement.
CNN - “Four months?” said Derek Hamm of Obsessive Compulsive Divers in Marathon, Florida, regarding the time oil tankers have been anchored in the Persian Gulf, leading to significant biofouling issues.
CNN - Biofouling on oil tankers includes barnacles, mussels, clams, and algae, requiring large crews of scuba divers to clean the vessels.
CNN - Each oil tanker, over 1,000 feet long, has approximately 150,000 square feet of bottom that needs cleaning, taking crews of five to six divers roughly four to five hours per ship.
CNN - Bottom cleaning services are now charging upwards of five figures per ship due to increased demand.
Bloomberg Markets - Iran and Oman announced they will begin work on finding an agreement regarding the future administration of the Strait of Hormuz, including the cost of managing transit.
Bloomberg - Tankers are becoming more overt in transiting the Strait of Hormuz following an agreement between Iran and the US to end their conflict.
BBC News - Traffic in the Strait of Hormuz has risen, including 42 ships on a single day.
WHERE:
Bloomberg - The Strait of Hormuz.
WHY:
CNN - Biofouling significantly reduces fuel efficiency, making it more expensive to transport oil, which constitutes about 50% of a ship's operating costs.
Bloomberg - The US has greenlighted Iran to sell oil on the open market as part of the agreement to end the conflict.
HOW:
CNN - Bottom cleaning services are now charging upwards of five figures per ship due to increased demand, with some teams raising their fees by a few thousand dollars.
CNN - Bottom cleaners use lances, power sanders, and pressure cleaners to remove biofoul, while ensuring not to damage the ship's paint and special coatings.
Bloomberg Markets - More ships are openly signaling their intention to traverse the Strait of Hormuz, indicating growing confidence among shipowners and traders.
BBC News - The agreement between the US and Iran has led to increased maritime traffic in the waterway.
(UPDATED June 23, 2026 23:21 UTC)
US Secretary of State Marco Rubio has issued a warning to Iran, stating that no country can impose fees on ships traveling through the Strait of Hormuz. Meanwhile, Iran and Oman have announced plans to negotiate an agreement regarding the future management of the strait, which has raised concerns among traders and shipowners about potential tolls for transit. In response to heightened demand, bottom cleaning services are now charging over ten thousand dollars per ship, with some companies increasing their fees by several thousand dollars.
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(UPDATED June 23, 2026 21:30 UTC)
In Marathon, Florida, Derek Hamm of Obsessive Compulsive Divers highlighted that oil tankers have been anchored in the Persian Gulf for four months, leading to serious biofouling issues that require extensive cleaning efforts. Each oil tanker, measuring over 1,000 feet long, has around 150,000 square feet of bottom that needs to be cleaned, with crews of five to six divers spending four to five hours per ship, and the demand for these services has driven prices to five figures per vessel. Biofouling not only includes barnacles and algae but also significantly reduces fuel efficiency, which impacts about 50% of a ship's operating costs, prompting bottom cleaners to use specialized tools like lances and pressure cleaners to tackle the problem without damaging the ship's coatings.
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(UPDATED June 23, 2026 19:38 UTC)
Trump announced on Truth Social that he has agreed to keep the Hormuz Strait open without any further naval blockade. In response, Iran and Oman are set to start discussions on an agreement for the future management of the Strait, which will include the costs associated with transit. Additionally, more ships are now openly indicating their plans to navigate the Strait, reflecting an increase in confidence among shipowners and traders.
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(UPDATED June 23, 2026 17:39 UTC)
Ellen Fraser, a partner and energy expert at Baringa Partners, has highlighted significant developments in the oil market as tankers are increasingly visible in the Strait of Hormuz. This surge in maritime traffic, including 42 ships on a single day, follows a new agreement between the US and Iran that allows Iran to sell oil on the open market. As a result, the Strait of Hormuz is experiencing heightened activity, marking a notable shift in the region's dynamics.