Story perspectives

Cosco Resumes Gulf Bookings Amid Strait Tensions

3/30/2026

Summary

Story summary

The CSCL Indian Ocean and CSCL Arctic Ocean turned back from the Strait of Hormuz on March 27, 2026.
Cosco Shipping announced it will resume Gulf bookings, the first major carrier to do so since the conflict began.
Transit is denied by the Islamic Revolutionary Guard Corps (IRGC) despite Iran's claim that some nations could transit freely.
Iran is reportedly seeking fees for vessel transits, further complicating the shipping landscape.

History

Historical Context

The Iran-Iraq War, which began in 1980, escalated maritime tensions in the Strait of Hormuz, a crucial passage for 20% of global oil trade. By 1988, U.S. military operations, including Operation Praying Mantis, targeted Iranian naval assets in retaliation for attacks on shipping. Today, the Islamic Revolutionary Guard Corps maintains control over these waters, complicating international trade and highlighting ongoing regional conflicts' impact on global energy markets.

1 of 2

Story summary

The CSCL Indian Ocean and CSCL Arctic Ocean turned back from the Strait of Hormuz on March 27, 2026.
Cosco Shipping announced it will resume Gulf bookings, the first major carrier to do so since the conflict began.
Transit is denied by the Islamic Revolutionary Guard Corps (IRGC) despite Iran's claim that some nations could transit freely.
Iran is reportedly seeking fees for vessel transits, further complicating the shipping landscape.

1 / 2