Global shipping executives have sharply criticized President Donald Trump’s proposal to impose a 20% levy on vessels transiting the Strait of Hormuz, dismissing the plan as economically unworkable and politically provocative.
Industry leaders argue that the toll, which Trump has framed as a necessary fee for US security guarantees in the region, would effectively amount to theft and could severely disrupt global energy supplies.
The Strait of Hormuz remains a vital artery for global energy trade, with approximately 20% of the world’s oil passing through the narrow waterway.
The proposal, which would require cargo vessels to pay a fee equivalent to one-fifth of the value of their cargo, has drawn immediate backlash from the maritime sector.
Executives warn that such a steep charge would not only increase costs for shippers but also risk choking off the flow of oil and gas through one of the world’s most critical chokepoints.
At current Brent crude prices, the toll would impose a significant financial burden on supertankers, potentially altering routing decisions and increasing insurance premiums.
The Strait of Hormuz remains a vital artery for global energy trade, with approximately 20% of the world’s oil passing through the narrow waterway.