Shippers

Shipping companies are holding back from returning to the Strait of Hormuz, saying they need firmer assurances on the terms of the US-Iran ceasefire after Tehran said the vital waterway remains off-limits to vessels sailing without a permit. The six-week war all but choked off traffic through the strait, a narrow corridor that handles about 20% of global oil and liquefied natural gas (LNG) shipments, sending energy prices sharply upward around the world. Iran said it would provide safe passage in coordination with its armed…