Whats Going on with Shipping
@wgowshipping·697K subscribers·1.2K videos
Shipping Rackets and Sea Mines: The New Normal in Hormuz after 17 Weeks
Posted
June 29, 2026
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176,596
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14,719
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June 29, 2026
176,596
14,719
1,897
9.41%
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27:04Now PlayingIn this episode of What's Going no With Shipping?, we hit week 17 of the ongoing crisis in the Strait of Hormuz. Despite talk of ceasefires and memorandums of understanding, the reality on the water remains volatile. We dive into the latest vessel attacks, the surge in Iranian oil exports, and the growing complexity of navigating these vital shipping lanes. From the "racket" of new transit fees to the threat of 80+ sea mines, we break down why a return to "normal" is still far on the horizon.
Key Highlights
⚓Fragile Ceasefire: Recent attacks on the container ship Ever Lovely and the tanker Kiki highlight the instability of the current US-Iran pause in strikes.
⚓Iranian Oil Surge: Following a US Treasury waiver, unsanctioned Iranian crude is flowing freely even as other shipping faces continued disruption.
⚓Transit "Rackets": Discussion on the new Persian Gulf Strait Authority (PGSA) and potential coordination between Iran and Oman to impose new fees and insurance requirements.
⚓The Mine Threat: The IMO estimates at least 80 mines are currently in Hormuz shipping lanes, complicating the return of commercial traffic to the central corridor.
⚓Escalating Costs: Cargo rates for tankers in the region have spiked significantly, with some benchmarks reaching nearly nine times their normal value.
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Shipping risks mount despite US-Iran agreement to pause strikes
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