IRGC's Hormuz Paid-Passage Scheme Ongoing — Ships Must Register with 'Persian Gulf Strait Authority,' Pay Up to $2M; Shipowners and Insurers Remain Wary — Day 71

The IRGC's self-declared Hormuz paid-passage scheme continued through Day 71 (May 9, 2026), with Iranian authorities requiring ships to register with the so-called 'Persian Gulf Strait Authority' by email, disclosing destination, flag state, cargo value, and crew nationalities — and paying fees of up to $2 million per vessel. The scheme represented an escalation from the original May 4 maritime control zone announcement, which had charged $1 million or more per vessel. Insurance Journal reported that while Iran had outlined the process for 'safe, stable passage' through designated northern lanes near Larak Island, shipowners and marine insurers remained wary of using the routes due to risk of Iranian mines in non-designated areas. Kpler data confirmed Hormuz traffic remained at roughly 5% of pre-war volume — approximately 191 crossings in all of April versus a pre-war monthly baseline of several thousand. The 1,600 stranded vessels included crude tankers, LNG carriers, container ships, and dry bulk vessels, representing a cumulative economic loss to global trade estimated in the hundreds of billions of dollars. The IEA warned approximately 14 million barrels per day of supply disruption remained ongoing, with no resolution in sight as diplomatic talks stalled.