Iran media says tankers in Strait of Hormuz may face $150,000 to $2 million fees

Vessels transiting the Strait of Hormuz are reportedly paying Iranian passage-related fees that have fallen sharply from the levels seen at the start of the conflict. Earlier reports from Iranian media outlet Fars News, cited by Jin10, said tankers could face charges of $150,000 to $2 million per vessel and that some payments might be made partly in goods or through barter instead of cash. Lloyd’s List later reported that some ships are paying more than $100,000 per vessel for Iranian passage permission, citing a maritime security operator, while Xinhua said current one-way fees are up to $120,000 for bulk carriers and $160,000 for tankers, down from $1 million to $2 million per ship at the start of the conflict. The Strait of Hormuz is one of the world’s most important oil shipping chokepoints, making any added transit cost relevant for energy, shipping and financial markets.