Iran Sets Out Process for Hormuz Transit But Shipowners Are Wary

Iran has laid out an updated process for ships seeking to transit Hormuz, but several shipowners said they remained cautious about sending their vessels through until there are more details about the conditions that may be imposed.

Iran’s Islamic Revolutionary Guard Corps said Wednesday that “safe, stable passage” through the waterway will be possible with “new protocols in place.” That came soon after a report that the US had proposed a peace deal, which Tehran is now considering.