A day after President Donald Trump announced "Project Freedom," a U.S.-led effort to guide ships stranded in the Strait of Hormuz, several shipping companies said Monday the initiative fell short of arrangements needed to persuade them to make the trip.
Iran has effectively restricted traffic through the strait, a crucial shipping route for the global oil trade, since the conflict with the U.S. and Israel began Feb. 28.
Shipping companies have been reluctant to transit the strait despite Trump's plan for U.S. guidance of commercial vessels, citing a lack of operational detail and continued security risks, The New York Times reported Monday.
The U.S. military said Monday that two American-flagged merchant ships had successfully passed through the strait and that Navy guided-missile destroyers in the Persian Gulf were working to restore commercial shipping.
But there were also reports of attacks on other ships. The United Arab Emirates accused Iran of launching a drone strike on an oil tanker owned by its state oil company, according to the Emirati state news agency.
A South Korean cargo ship also caught fire Monday after an explosion in the strait. The South Korean government said it was reviewing intelligence reports that the Panamanian-flagged vessel may have been attacked. The blaze broke out in the vessel's engine room.
Without an agreement from Iran, "there is a risk of hostilities breaking out again," Jakob Larsen, chief safety and security officer of the Baltic and International Maritime Council, told the Times. The council represents companies in the maritime sector.
"It is unclear whether Project Freedom is sustainable in the longer run or whether it will be a limited operation to get some of the trapped ships out," Larsen said.
Tom Bartosak-Harlow, a spokesman for the International Chamber of Shipping, a maritime trade group, told the Times that Trump's plan lacked detail.
"There is much uncertainty around what Project Freedom means in practice, but any plans put in place must be done in a coordinated and transparent manner," he said.
Bartosak-Harlow added the chamber was calling on all countries, including Iran, "to work together to seek a swift and transparent resolution to restore freedom of navigation."
Hapag-Lloyd, a large container shipping company, has several vessels stranded in the Persian Gulf that it would like to send through the strait, according to the Times.
"At this stage, our risk assessment remains unchanged, and the Strait of Hormuz remains closed for Hapag-Lloyd transits until further notice," the company said Monday.
Insurance costs are a primary reason cargo ships are not traveling through the strait, Ana Subasic, a trade risk analyst at Kpler, told the Times.
"Even if a captain is willing to sail, owners, lenders, charterers and cargo interests may refuse to," she said.
Newsmax has contacted the White House for comment.
Since early last month, the U.S. Navy has enforced an "ironclad blockade," as Secretary of War Pete Hegseth described it, aimed at preventing ships from entering or exiting Iran's ports and choking the regime's oil exports.
"Project Freedom has a moderate chance of extracting some vessels, especially U.S.-flagged or highly coordinated low-risk vessels, but a low chance of fully reopening Hormuz quickly unless it becomes legally clear, less expensive and diplomatically coordinated," Subasic said.
The International Maritime Organization, which monitors developments, said about 20,000 mariners on around 1,600 vessels were trapped in the Persian Gulf, according to the Times.
Nearly 30 ships have been attacked since the war began, according to the organization.
Michael Katz ✉
Michael Katz is a Newsmax reporter with more than 30 years of experience reporting and editing on news, culture, and politics.
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