Iran’s foreign ministry said the two countries had agreed the geographical coordinates of a proposed route and were completing a joint statement outlining how it would operate.      “The geographical coordinates of the route envisaged by the two sides have been agreed upon,” foreign ministry spokesman Esmaeil Baqaei said, adding that the text was in the final drafting stage.   Reports suggested inbound ships would use a route running largely through Iranian territorial waters, while vessels leaving the Gulf would pass through an Oman-controlled lane. The arrangement was expected to be introduced initially for a limited period, giving both countries time to assess its operation.       The most contentious issue remained whether ships would be required to pay security, environmental or other service fees.       A senior Iranian official told Reuters that the regime was looking to fees of 5-7% of the cargo. Oman was discussing fees of half that.      On cargo value, Iran’s 5-7% equates to $8m to $11m per VLCC while Oman’s level is in the $4m to $5m range. For spot owners the fee itself would largely be a pass-through – incorporated into the time charter and borne by the charterer.   The US has opposed any compulsory charges, arguing that the strait is an international waterway where the right of transit passage must be maintained.   Eight of shipping’s largest international associations have also intervened, writing jointly to UN secretary-general António Guterres and IMO secretary-general Arsenio Dominguez.   The Asian Shipowners’ Association, BIMCO, Cruise Lines International Association, European Shipowners, the International Chamber of Shipping, Intercargo, Intertanko and the World Shipping Council warned that service fees could amount to tolls under another name.

“Once such a precedent is established, it becomes increasingly difficult to resist similar measures elsewhere,” the groups warned.      They argued that compulsory charges would undermine the internationally recognised framework governing straits used for international navigation and would feed through supply chains into higher energy prices, inflation and economic uncertainty.

The proposed arrangement comes as commercial traffic through Hormuz remains severely depressed following months of fighting and attacks on ships. US president Donald Trump said this week that progress had been made and that an announcement could come soon, although Washington insisted no final agreement had been reached.   Any deal would still depend on wider security conditions and the willingness of shipowners, insurers and crews to return to the waterway.

Meanwhile, the Houthis have widened their campaign against Saudi-linked shipping, claiming a ballistic missile attack on the product tanker Daisy in the Gulf of Aden.

UK Maritime Trade Operations reported that a tanker experienced a loud explosion in close proximity around 95 nautical miles southeast of Aden on Wednesday. All crew were safe, and no damage or pollution was initially reported.   Vanguard Tech identified the vessel as the Dominica-flagged Daisy, saying the explosion occurred around 40 m from its port side and sent a shockwave through the ship. The Houthis subsequently claimed a direct hit that forced the tanker to reverse course, although that assertion was not corroborated.   The incident marked the group’s second claimed attack on a Saudi tanker in about 24 hours. Houthi spokesman Yahya Saree said the Saudi-flagged, Bahri-controlled NCC Wafa had been targeted off Yanbu with several ballistic missiles.

UKMTO also confirmed that the Indian vessel Faize Noore Oliya was struck by an uncrewed surface vessel southwest of Al Mukha earlier this week. The attack caused a fire before the ship sank, although all 14 people aboard were rescued. No group has claimed responsibility.