Iran has launched a new and secure shipping corridor in the strategically important Strait of Hormuz. According to Al Jazeera report, select ships are now being allowed to pass near the Iranian coast. This new route is directly monitored by the Iranian Revolutionary Guard Corps (IRGC). Earlier, this sea route was almost closed due to conflict, which had a negative impact on global trade.
What are the new rules for the passage of ships?
To use this new sea corridor of Iran, ships will have to follow a special procedure. Iran has clarified that this route is open only to ships of friendly or non-enemy countries.
Ships will first have to complete the process of registration and verification. Complete information about the ship’s owner and cargo will have to be given to the IRGC in advance. Naval forces and port officials near Iran’s Larak Island will conduct a physical examination of the ships. According to the report, a tanker has paid a fee of about 2 million dollars to pass through this route. Countries like India, China, Pakistan and Malaysia are in direct contact with Iran to provide passage to their ships.
What will be the impact on Indian ships and trade?
This news is a great relief for India because Indian gas carrier ships have already started using this new route. Indian ships Shivalik, Nanda Devi and Jag Laadki have reached India safely through this route. Since February 28, there was a decline of more than 94 percent in trade through this route.
Now it has been opened under ‘permission-based’ system. However, ships belonging to America, Israel and some countries of Europe are still not allowed to pass through this route. There are plans to make this system more formal and systematic in the coming times.
