May5 , 2026

    BIMCO Urges Caution in Hormuz Despite U.S. ‘Project Freedom’ Push

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    The Baltic and International Maritime Council has advised shipowners to remain on high alert in the Strait of Hormuz, warning that the security environment for commercial shipping remains largely unchanged despite a new U.S. initiative to reopen the chokepoint.
    Speaking to gCaptain, Jakob Larsen said the industry still lacks the structured guidance typically required to support a return to normal transit operations. He noted that no formal details have been issued regarding “Project Freedom,” the effort announced by Donald Trump to restore shipping flows through the region.

    Larsen cautioned that without explicit consent from Iran for safe commercial passage, it remains uncertain whether threats to shipping can be effectively reduced. Tehran has warned that vessels attempting to transit without coordination with its military could face action, raising the risk of escalation as the U.S.-led initiative unfolds.

    BIMCO also questioned the long-term viability of “Project Freedom,” suggesting it may be a limited operation rather than a sustained security framework. “It is unclear whether this is sustainable in the longer run or simply intended to move stranded vessels,” Larsen said.
    The warning comes amid fresh security incidents in the region. According to Reuters, a South Korean vessel was struck by an explosion in the strait, while drone activity linked to Iran caused a fire at an oil facility in Fujairah, underscoring persistent risks to maritime operations.

    While the U.S. military reported that two U.S.-flagged merchant ships successfully transited the waterway, Iranian authorities denied that any such crossings had taken place, highlighting conflicting narratives around the situation.

    “The overall security picture remains unchanged,” Larsen emphasized, urging shipowners to continue rigorous risk assessments. For operators, the lack of credible and durable assurances of safe passage means that convoy announcements and competing official claims are unlikely to significantly influence commercial decision-making in the near term.

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