Asian shipowners first to move

According to shipping executives at the FT Commodities Global Summit, Asian shipowners are likely to be the first to risk regular Strait of Hormuz transits as they have a higher risk tolerance and can manage paying tolls, an option denied to firms complying with western sanctions, reported Reuters. The ships which have transited with the approval, tacit or otherwise, of the Iranian state/IRGC forces have tended to be government-owned vessels. These had gained an advantage from government-to-government communications with Iran or naval support, which merchant traders do not have.