Despite Trump's assurances, shippers wait and see on Strait of Hormuz

Major shipping companies still see transiting the Strait of Hormuz as "very risky" and say there's little appetite to resume normal operations through the vital waterway until more details of the U.S.-Iran deal become clear. Multiple companies say firm security guarantees are needed, despite an assurance from President Trump of a "totally safe, secure, and pristine" route through the strait. The U.S. and Iran are set to sign a memorandum of understanding Friday in Switzerland that will formally lift restrictions imposed by both countries on traffic in the Strait of Hormuz. Before the U.S. and Israel launched their war with Iran on Feb. 28, about a fifth of the world's oil and gas supplies typically transited the strait. Iran's attacks on and threats against commercial vessels, launched in retaliation for the U.S.-Israel strikes, brought that traffic to a virtual standstill, driving global energy prices up significantly. Mr. Trump, in a Sunday post on his Truth Social platform announcing the agreement with Iran, said: "I hereby fully authorize the toll free opening of the Strait of Hormuz, and, simultaneously herewith, authorize the immediate removal of the United States Naval blockade." "Ships of the World, start your engines," Mr. Trump said. "Let the oil flow!" A person sits in shallow water as cargo and commercial vessels are anchored in the Strait of Hormuz off Bandar Abbas, Iran, Monday, June 8, 2026. …