Shipping Industry Remains Wary Despite U.S.-Iran Agreement

AI Summary

Shipping companies remain cautious about navigating the Strait of Hormuz following a recent peace agreement between the US and Iran. Industry leaders state that trade volumes are unlikely to return to full capacity until next year due to ongoing safety concerns for tankers in the region.

Shipping firms remain reluctant to navigate the Strait of Hormuz sea passage despite this week’s peace deal, according to a boss of the industry’s lobby group who warned that trade volumes will not return to full capacity until next year. Peter Aylott, director of policy at the UK Chamber of Shipping, told City AM that firms would need to see a “fairly robust string of evidence” that tankers stuck in the Persian Gulf could leave free from before they would have the confidence to sail through the strait after the deal. “We’re…