Current Affairs
BIMCO Warns Abrupt 'Project Freedom' Pause Complicates Hormuz Risk Calculus
BIMCO warned that the Trump administration's abrupt suspension of 'Project Freedom' has injected fresh uncertainty into the volatile operating environment for commercial vessels in the Persian Gulf. BIMCO Chief Safety & Security Officer Jakob Larsen stated that while the short-lived U.S. effort briefly enabled a few U.S.-flagged ships to exit safely, transits through the Strait of Hormuz without coordination with Iran still carry significant risk. Despite ongoing disruption, BIMCO members report crews continue coping with conditions in the Gulf while securing fuel and provisions locally at elevated prices.