A significant breakthrough has been announced in relation to the Strait of Hormuz. According to news reports over the weekend, the United States and Iran have reached a framework agreement that provides for the reopening of the Strait of Hormuz to commercial shipping and the lifting of the United States naval blockade of Iranian ports. The agreement is expected to be formally signed in Switzerland on Friday, 19 June 2026.
Reports indicate that the parties have agreed to an immediate and permanent cessation of military operations on relevant fronts, while the Strait of Hormuz is to reopen completely. Whilst positive, the operational risks should still be approached with caution. The full text of the agreement has not yet been published, and implementation remains subject to formal signing and technical arrangements, and shipping traffic is not expected to normalize immediately. Mine-clearance, traffic coordination, naval instructions, port access arrangements and insurer guidance may all affect the pace at which vessels can safely resume trading.
The announcement also does not by itself remove the war-risk exposure and insurance requirements which will remain until the situation has fully stabilized. Insurance cover should therefore continue to be reviewed on a voyage-by-voyage basis before entering or approaching the Persian Gulf, the Gulf of Oman or the Strait of Hormuz. Shipowners and operators should also consider the contractual consequences of the reopening. Charterparty orders, deviation decisions, delay claims, safe port and safe berth obligations, force majeure positions and war-risk clauses may all require careful review as the situation moves from active closure to phased reopening.
NNPC Marine Insurance recommends that members and clients continue to exercise caution and continue to take the following steps:
- monitor official guidance from UKMTO, flag states, naval authorities and insurers;
- review insurance cover on a per voyage basis;
- obtain updated route, port and security instructions before fixing or performing voyages;
- record charterparty orders, deviation decisions and any delays carefully;
- ensure that masters receive clear guidance on reporting, AIS use and emergency contacts.
For advice or further clarification, please contact NNPC Marine Insurance via claims@nnpc-marine.com.
