The Strait of Hormuz shipping crisis shows signs of resolution as South Korean vessels begin departing following a landmark U.S.-Iran peace agreement. The VLCC Universal Winner, carrying 2 million barrels of Kuwaiti crude, became the first to reach Ulsan after being stranded for months. Diplomatic efforts have reduced the number of trapped South Korean-linked ships from 26 to 24, with 137 crew members awaiting safe passage.Yonhap News Agency+2
Two South Korean-operated LNG carriers successfully navigated the strategic waterway this week under foreign charter agreements. The vessels, each with eight Korean crew members, mark the first transit successes since the South Korea-Iran agreement was reached. Maritime authorities confirm all personnel are in good health despite prolonged confinement.Yonhap News Agency+2
Gulf producers are increasingly using Red Sea pathways, with nine crude shipments routed through Yanbu Port since April 2026. The South Korean Ministry of Oceans and Fisheries confirms monitoring these alternative supply lines while maintaining Hormuz transit negotiations. Oil flows through the strait have increased 18% since June 10 despite ongoing tensions.Bloomberg+1
The U.S.-Iran deal announced by President Donald Trump includes provisions for demining operations and lifting the blockade. A formal signing ceremony is scheduled in Switzerland, with Japan considering SDF minesweeper deployments. South Korea is evaluating participation in a U.S.-led maritime security initiative to protect future shipments.Yonhap News Agency+2
France and Britain are coordinating a multinational naval mission featuring military escorts through Hormuz. While Trump expressed initial skepticism, allies emphasize the plan's role in stabilizing global energy markets. The Takashima-class minesweepers from Japan may join the operation pending domestic approval.Nikkei Asia+1