Dubai: Iran's Strait of Hormuz authority on Friday said it would waive the planned transit fees for ships using the strategic waterway during the 60-day negotiation period under the memorandum of understanding signed with the United States this week.
Ships seeking passage through the Strait of Hormuz while the interim agreement remains in force must submit transit requests at least 48 hours before arrival, the Persian Gulf Strait Authority (PGSA) said in a notice.
Iran said it would waive fees related to security, safety, environmental services, and associated insurance during the period. However, vessels will be required to coordinate their routes and transit schedules in advance due to areas affected by mines and to ensure safe navigation.
Meanwhile, a vessel owned by a Japanese company carrying three Japanese crew members safely passed through the Strait of Hormuz on Friday and exited the Gulf without incident.
The Strait of Hormuz is the world's most vital oil export route, connecting major Gulf oil producers such as Saudi Arabia, Iran, Iraq, and the United Arab Emirates with the Gulf of Oman and the Arabian Sea. Iran had closed the Strait after the US and Israel jointly launched strikes on February 28.