Lloyd’s of London is reporting that Iran has created a de facto ‘safe’ shipping corridor through its territorial waters in the Strait of Hormuz, offering vetted vessels passage in exchange for approval and in at least one case, a reported $2m payment. While use of the Iranian corridor is being negotiated on a case-by-case basis, Lloyd’s List understands the IRGC is expected to establish a more formalised vessel approval process in the coming days.[1]
At least one tanker operator is understood t
