After Iran and the United States reached a ceasefire on Sunday, maritime trade in the Strait of Hormuz and the Arabian Sea is again set to swell in the coming days, bringing relief to the world, including India. A start of that was visible on Monday when an Indian LNG carrier, Disha, safely transited through the Strait, the first Indian-flagged LNG carrying vessel to exit the war zone in more than three months.
A Shipping Ministry official said on Monday that Disha is managed by a Shipping Corporation of India-led consortium. It is carrying 62,370 metric tonnes of LNG cargo. It is likely to reach India by June 18.
"As we speak now, LNG carrier Disha, managed by a Shipping Corporation of India-led consortium, has safely transited the Strait of Hormuz, and she is carrying 62,370 metric tons of LNG cargo. The vessel is supposed to enter Dahej on coming to India, likely on the 18th," Opesh Kumar Sharma, Director, Ministry of Ports, Shipping & Waterways, said, briefing the media on the recent developments in West Asia.
Will the peace agreement bring peace to the Strait?
According to the information available, the Strait of Hormuz would be reopened, and the US would also lift its blockade. US President Donald Trump said that the Strait of Hormuz would be reopened on Friday, and he had ordered a lifting of the blockade on Iranian ports.
An Iranian official, on the other hand, told news agency Reuters that the narrow waterways would be open for every commercial vessel after a memorandum is signed between Washington and Tehran. Iran's Mehr news agency stated that the uninterrupted traffic would start flowing within 30 days.
However, the traffic in the Strait would be regulated by Iran and Oman in coordination under the memorandum, according to Iran's semi-official Fars news agency.
There is a certain level of factual ambiguity on the terms and timings of the issue, except for a consensus on opening it for all vessels. On the issue of toll, which Iran considered during the war, the possibility seems unlikely.
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The leaders of France, the UK, Germany and Italy, a grouping called the E4, were also quick to emphasise that the reopening of the strait must be unconditional and with unrestricted freedom of navigation.