Seoul races to resume transit of ships stranded in Hormuz amid US-Iran ceasefire

A cargo ship is seen in the Persian Gulf off northern Ras al‑Khaimah, near Oman’s Musandam governorate, March 11, amid the U.S.-Israeli conflict with Iran. Reuters-Yonhap

The government is verifying whether and when 26 ships linked to Korean companies, currently stranded in the Strait of Hormuz, can resume transit following a ceasefire between the United States and Iran, according to Cheong Wa Dae and relevant ministries, Wednesday.

Even though both sides have said that safe passage through the strait would be possible during the two-week ceasefire, it remains unclear whether the strait will reopen immediately and exactly what conditions Iran requires for passage.

A total of 26 ships linked to Korean businesses remain stranded. They consist of 11 oil tankers — seven foreign-flagged vessels carrying oil to Korea and four Korean-flagged ships bound for other countries — and 15 other ships, including bulk freighters and vehicle transporters.

“We are closely monitoring the specific procedures and conditions for passage through ongoing communications with relevant countries, as Iran said it would allow passage in coordination with its armed forces and with consideration of technical limitations,” a Cheong Wa Dae official said.

The official said the government is “coordinating closely with shipping companies to quickly review all necessary matters, including the list of vessels eligible for transit.”

“The government will do its utmost to ensure that Korean vessels can resume navigation through the Strait of Hormuz as promptly as possible,” the official added.

An official from the Ministry of Trade, Industry and Resources also said the ministry is verifying the details through diplomatic channels.

The official noted that it remains uncertain when transit will be possible.

Once details are confirmed, the trade ministry will consult with the Ministry of Foreign Affairs and the Ministry of Oceans and Fisheries to support the “swift and safe passage” of the ships, he said.

In a statement, the Ministry of Foreign Affairs said the agreement “paves the way for the resumption of navigation” through the strait that Iran has effectively blockaded since the U.S. and Israel began their attacks on Feb. 28.

It also expressed hope that all vessels, including those from Korea, can navigate the strait “freely, swiftly and safely.”

“To this end, we will continue communication and consultations with relevant countries,” it added.

When asked about the possibility that some of the 26 vessels may opt to stay in the strait for their own reasons, a foreign ministry official said, “If passage is allowed, we believe no vessel will choose to stay there.”

The Ministry of Oceans and Fisheries said that Korean shipping companies will independently draw up plans to navigate the vital waterway after consulting with the ministry.

“The shipping companies will determine the timing of their vessels’ passage after monitoring subsequent measures taken by foreign ships and governments of involved nations,” it added.

The reactions from Seoul came as the U.S. and Iran announced a two-week ceasefire agreement.

It came less than two hours before Donald Trump’s self-imposed 9 a.m. Wednesday (Korea time) deadline for Iran to reopen the strait or face strikes on its infrastructure.

The Strait of Hormuz is one of the world’s most critical energy chokepoints, through which about 70 percent of Korea’s imported crude oil is transported.

The ceasefire agreement is expected to have a significant impact on the Korean government’s new cap on oil prices, its third such price cap amid the conflict, which is scheduled to be announced Thursday.

The oil tankers bound for Korea carry approximately 14 million barrels of crude oil.

A trade ministry official said the government will determine the new price cap “by comprehensively considering all variables, including trends in international oil prices and the actual navigability of the strait.”