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UN maritime agency opposes Hormuz transit fees amid security squeeze
The dispute follows an escalation in attacks on commercial ships transiting the strait over the past week, raising risks for shipping schedules.
CNBC Markets reports that a UN maritime agency has opposed proposals for fees tied to transiting the Strait of Hormuz, citing worsening security conditions in the area.
According to the outlet, the security situation has deteriorated since Iran attacked multiple commercial ships that were transiting the strait over the past week.
The reports also note that the renewed tensions are adding pressure to shipping operators, as passage through the choke point becomes more hazardous.
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