The first ships began to transit the Strait of Hormuz this Wednesday after the United States and Iran announced a bilateral ceasefire for two weeks, which includes the temporary reopening of the world's most strategic maritime route.
According to data from MarineTraffic, the Greek-owned bulk carrier NJ Earth crossed the Strait at 08:44 UTC, while the Daytona Beach, flagged under Liberia, did so earlier at 06:59 UTC, shortly after departing from the Iranian port of Bandar Abbas at 05:28 UTC.
"Early signs of ship activity in the Strait of Hormuz are observed following the announcement of a ceasefire, which includes the reopening of the Strait of Hormuz for two weeks under supervision to allow for negotiations," stated the maritime tracking platform.
The agreement was reached after weeks of extreme tension. President Donald Trump went as far as to declare an Iranian 10-point plan viable that was presented as the basis for negotiations, which paved the way for bilateral understanding.
According to reports from the shipping industry, 800 vessels remain trapped in the Persian Gulf and hope to take advantage of this two-week window to head towards international waters.
Tensions had reached unprecedented levels in the days leading up to this. Trump issued warnings of devastating consequences for Iran, going so far as to claim that "An entire civilization will die tonight" if an agreement was not reached.
The closure of the strait had an immediate impact on global energy markets, as this route concentrates 20% of the world's oil and 20% of the liquefied natural gas traded globally. Fuel prices skyrocketed worldwide, with gasoline surpassing five dollars in Miami Beach.
To address the impact on supply, the United States will release another 172 million from its strategic reserve of oil with the aim of stabilizing domestic prices during the crisis period.
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