Iran War & Ceasefire — 2026-04-10

Strait of Hormuz Shipping at Virtual Standstill Despite Ceasefire

Maritime traffic through the Strait of Hormuz remained near zero two days after the US-Iran ceasefire, with fewer than ten vessels transiting versus a prewar average of 100+ daily. Iran released a map suggesting it may have mined the strait, designating specific shipping lanes. Shipping firms say they lack information on safe transit procedures, and a Hapag-Lloyd executive said normalization is "weeks away." Oil prices rose back above $100/barrel as markets digested the reality that the waterway remains effectively closed.

Analysis
Iran's mine map release and crypto toll demand suggest Tehran views Hormuz access as its primary post-ceasefire leverage, not a concession to be made upfront. Shipping executives' refusal to transit without clear protocols means the ceasefire's key economic benefit remains unrealized. Every additional day of closure strengthens Iran's negotiating hand while eroding global patience with the deal.
2 sources
  1. Weeks, if not months: Strait of Hormuz tanker traffic won't normalize anytime soon - CNBC
  2. Shipping in Strait of Hormuz at a standstill despite US-Iran ceasefire - Al Jazeera

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