Shipping Faces Tough Choices on Whether to Pay for Access to Hormuz
Iran is demanding a fee for passage through the Strait of Hormuz, hoping to raise funds and to normalize its control over the world's most important choke point for energy shipping. The question for shipowners is simple: is it a good idea to pay, and if so, who will cover the cost? Since March, the Islamic Revolutionary Guard Corps has generated extraordinary political leverage for Iran by metering out transit rights and attacking ships at will; by one calculation, a...
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