Expert: Trump’s Proposed Hormuz Fee Could Cost Up to $17 Million per Ship

A 20% fee proposed by Donald Trump for ships passing through the Strait of Hormuz could burden maritime operators with costs of up to $17 million per vessel. The estimate was made by shipping expert Richard Meade.

In an interview with the BBC, the editor of Lloyd’s List magazine said that the fees imposed by Iran had been “more reasonable” compared with Trump’s plan. However, he stressed that neither the Iranian fees nor those proposed by the US side are supported by international law.

Meade estimates that a fully loaded oil tanker or gas carrier would have to pay between $16 million and $17 million to pass through the Strait of Hormuz if Trump’s proposed 20% fee is implemented.

According to the expert, the payments initially imposed by Iran ranged from £1 million to £2 million. In some cases, they were later reduced to around £100,000 to £200,000 per vessel.

He also warned that escalating tensions in the region are leading to significant increases in insurance premiums for ships, at a time when these costs had begun to decline.

Meade stressed that it is still unclear how the Trump administration would implement the 20% fee. He recalled that the US president has made similar statements in the past that were not carried out.

Meanwhile, the ongoing Houthi attacks in Yemen are expected, he said, to further increase the cost of transporting oil through the Red Sea and the Bab al-Mandab Strait.