The International Chamber of Shipping has strongly denounced proposed tolls in the Strait of Hormuz, calling it a retrograde step for global trade. Furthermore, the industry is concerned about the continued plight of thousands of stranded seafarers.

The International Chamber of Shipping (ICS) has denounced proposed tolls in the Strait of Hormuz as a worrisome step in the wrong direction, while noting that several thousand stranded seafarers remain the international shipping community’s foremost concern. “Freedom of navigation has to be one of the pillars of free trade, and it would be a retrograde step – a really bad step,” said John Denholm, chair designate of the ICS, referring to the idea of charging vessels to transit the oil...