EMEA News
'No Legal Basis' to Impose Tolls on Ships Transiting Hormuz Strait: IMO Chief
The head of the IMO has warned that imposing tolls on vessels transiting the Strait of Hormuz would violate international law and undermine global shipping stability.
“The principle of freedom of navigation is not negotiable, Arsenio Dominguez, Secretary-General of IMO, said in a UN Security Council High-Level Open Debate on Monday.
“Ships must be allowed to trade worldwide unhindered and in accordance with international law.”
He added that “there is no legal basis for any country to introduce payments or impose tolls, fees, or any discriminatory conditions on international straits,” cautioning that “any deviation from these well-established and recognised principles would set a negative precedent”.
The remarks come as tensions in the region have left around 20,000 seafarers and nearly 2,000 vessels trapped in the Persian Gulf.
Dominguez cautioned that any deviation from established legal principles would set a dangerous precedent for global trade.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 913.50 | 2.00 | 1254.00 | 24.50 |
| Rotterdam | 740.50 | 5.00 | 1392.50 | 2.50 |
| Houston | 767.50 | 3.50 | 1384.50 | 21.50 |
| Fujairah | 967.00 | 3.50 | 1606.50 | 117.50 |
| EMEA Average | 896.50 | 2.50 | 1718.00 | 10.50 |
| Global 20 Ports Average | 903.50 | 5.50 | 1525.00 | 8.50 |
| Global 4 Ports Average | 847.00 | 2.00 | 1409.00 | 42.00 |
| Global Average Bunker Price | 954.50 | 4.00 | 1601.00 | 0.00 |
Popular Now More
-
Oct 12The tools also record won and lost bunker enquiries, giving trading desks a fuller history to support commercial decisions. -
Oct 19Key takeaways from the panel on the shipowner's fuel map of tomorrow.