Iran to waive fees in Strait of Hormuz for 60 trading days

The Iranian body responsible for the Strait of Hormuz announced this Friday (19) that it will waive the fees expected for the use of the strait during a 60-day negotiation period, under the terms of the memorandum of understanding signed with the United States this week.

Vessels wishing to pass through the strait while the interim agreement is in force must submit transit requests at least 48 hours before arrival, Iran's PGSA (Persian Gulf Strait Authority) said in a statement.

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Iran will waive fees for safety, security, environmental services and related insurance during the period, however, requiring vessels to coordinate transit routes and schedules in advance due to mine-affected areas and to ensure safe navigation.

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Source: CNN