Donald Trump · Fortune Technology
Cargo ship crews face attacks waiting the Gulf as Trump pauses two-day-old project to ‘guide’ rolls out
Compiled by KHAO Editorial — aggregated from 2 outlets. See llms.txt for citation guidance.
◎ Multiple-sources
With hundreds of vessels still stuck in the Persian Gulf and costs piling up, shipping companies are being whipsawed by uncertainty over how and when the Strait of Hormuz might reopen more than two months into the Iran war.
Key facts
- Hapag-Lloyd AG, one of the world’s largest container shipping companies, says the Hormuz situation is costing it $60 million a week, particularly in skyrocketing prices of fuel and insurance
- On Sunday, President Donald Trump announced “Project Freedom,” a way for the U.S. to “guide” ships to exit the strait — It has a fleet of 301 ships, including four stranded in the Persian Gulf
- The Maersk shipping company said its U.S.-flagged Alliance Fairfax vehicle carrier exited the Persian Gulf through the Strait of Hormuz “accompanied by U.S. military assets” on Monday
Summary
On Sunday, President Donald Trump announced “Project Freedom,” a way for the U.S. to “guide” ships to exit the strait. Meanwhile, the risks for ships and crew haven’t faded. “Ultimately, it’s still going to come back to the primary issues of risk and safety,” that shippers have to evaluate, said Sean Pribyl, a maritime attorney at Holland & Knight in Washington, D.C. ”It seems as though they're not anywhere near to returning to a free flow of traffic and navigation through the strait,” he added.