Iran and Oman expected to formalise new shipping corridor in Hormuz region
Iran and Oman are set to agree on a revised maritime route for vessels in the Strait of Hormuz as mines and drone attacks have disrupted the traditional lane.
Ships that once used the two-mile-wide lanes of the Strait of Hormuz are now avoiding the historic route after Iranian mines and recent drone strikes made the waters hazardous. The traditional corridor, established in 1968 by a joint Iran-Oman proposal and endorsed by the United Nations maritime agency, carried about one-fifth of global oil and LNG shipments along with food, petrochemicals and other commodities.
With the main channel largely empty, vessels have been forced to navigate temporary corridors close to the Iranian and Omani coasts, resulting in reduced traffic volumes. Officials from Tehran and Muscat are expected to sign an agreement this week that will create a new, officially recognised shipping lane to restore some flow through the region.
Analysts note that while pipelines and the relocation of refineries may lessen dependence on the strait over time, the strategic importance of the waterway is likely to endure. The Economist argues that Iran’s ability to influence traffic through Hormuz will persist beyond the current conflict with the United States.