CONTENTS
- 1. Shipping Industry Regulation | Maritime Risk Shifts from "Blockade" to "Cost"
- - The Emergence of a New Form of Shipping Industry Regulation
- 2. Shipping Industry Regulation | Changes in the Cost Structure Across the Shipping and Energy Industries
- - The Gap Between International Law and Practical Reality
- 3. Shipping Industry Regulation | The Need to Shift Response Strategies
- - Daeryun's Assistance
1. Shipping Industry Regulation | Maritime Risk Shifts from "Blockade" to "Cost"
When combined with geopolitical conflict, shipping industry regulation evolves into a form that goes beyond restricting the freedom of maritime passage and imposes direct cost burdens on the operation of vessels.
Despite the recent ceasefire between the United States and Iran, the order of passage through the Strait of Hormuz has not returned to its previous state and is entering a new phase.
Rather than fully opening the strait, Iran is pursuing a plan to limit the volume of vessel traffic and impose a fixed toll, and it is reported that a cost of approximately 2 million dollars per very large crude carrier is actually being discussed.
Going further, given that the United States is also reviewing a plan to participate jointly in collecting the toll, the possibility has been raised that this may lead to a structural change in which the maritime route itself becomes "tolled."
The Emergence of a New Form of Shipping Industry Regulation
This matter can be viewed as one that changes the very paradigm of shipping industry regulation.
First, the most important issue is that the Strait of Hormuz is a natural strait in which the right of transit passage is recognized under international law.
According to the United Nations Convention on the Law of the Sea (UNCLOS), vessels in these waters are recognized as having the right to navigate continuously without separate authorization, and in principle the imposition of tolls is not permitted.
Nevertheless, Iran's pursuit of imposing a toll effectively means that it intends to exercise control over the strait through economic means, and this can be assessed as an attempt that conflicts with the existing international maritime order.
In addition, the method of restricting routes and directing vessels along specific paths can also be regarded as a measure that effectively limits the freedom of maritime traffic, so the question of its legality under international law is likely to emerge as an important issue.
2. Shipping Industry Regulation | Changes in the Cost Structure Across the Shipping and Energy Industries
If this change is realized, structural effects on the shipping industry and the energy market will be unavoidable.
First, crude oil transport costs will rise directly. The Strait of Hormuz is a key maritime corridor through which approximately 20% of the world's crude oil volume passes, and any cost increase arising there is highly likely to translate into upward pressure on global oil prices.
In addition, the response of shipping companies and insurers is also an important variable. Some analyses suggest that, before regulatory responses at the governmental level, shipping companies and insurers may first accept the costs, so that this could effectively become entrenched as a new practice.
In this case, the toll may become fixed not as a temporary cost but as a permanent part of the shipping cost structure, and this could become a factor affecting the entire global supply chain.
Going further, should similar attempts to impose tolls spread in particular straits or routes, there is also a risk that the very principle of "freedom of navigation," which has been the basic premise of maritime transport, may be weakened.
The Gap Between International Law and Practical Reality
A core characteristic of this matter is that, even though the imposition of a toll clearly raises legal concerns, in the actual market there is a possibility that it will be accepted as is.
This is because, even where illegality exists under international law, companies have no choice but to make realistic decisions in a situation where the means to replace maritime logistics are limited.
In this case, future disputes are likely to expand not only into disputes between states but also into various civil and commercial disputes, such as the contractual shifting of costs, modifications of transport contracts, and adjustments of insurance terms.
In particular, for companies that have concluded long-term transport contracts or time charter contracts, the question of who is to bear the additional costs is highly likely to emerge as a new point of dispute.
3. Shipping Industry Regulation | The Need to Shift Response Strategies
This case shows that the shipping industry is a composite industry in which political, military, and legal risks are combined.
Accordingly, companies need to consider the following factors comprehensively.
- Reviewing the structure of maritime transport contracts
- Examining provisions on the allocation of responsibility in the event of additional costs
- Confirming insurance terms and the scope of exemptions
- Establishing a supply chain diversification strategy that reflects geopolitical risk
Daeryun's Assistance
Daeryun, the 9th-largest law firm in the Republic of Korea (based on 2025 value-added tax filings with the National Tax Service), provides strategic responses to the complex legal risks arising in the shipping industry through the collaboration of attorneys and customs specialists who hold licensed customs broker qualifications, drawing on integrated advisory capabilities that span the fields of international trade, maritime and logistics, and energy.
In particular, it provides practice-oriented advice on the core legal issues that shipping and energy companies face, such as reviewing maritime transport contracts, designing the structure for the allocation of freight and additional costs, responding to international sanctions and trade regulations, and analyzing insurance and damages risks.
It also provides systematic legal services across the entire process, from preventive review to dispute response, with respect to supply chain changes caused by geopolitical risk, contractual disputes, and the shifting of costs.
In addition, based on memoranda of understanding (MOUs) with leading local law firms in major foreign countries, it is able to carry out cross-border work and has established an integrated advisory system that reflects the legal and regulatory environments of each country.
Through this, it can respond promptly and consistently even to cross-border legal issues, such as regulations on passage through international straits, sanctions risk, and overseas contractual disputes.
It also provides systematic legal services across the entire process, from preventive review to dispute response, with respect to supply chain changes caused by geopolitical risk, contractual disputes, and the shifting of costs.
Because the shipping industry is an area in which regulation and the market operate simultaneously, legal review and strategy development at the early stage can have a direct impact on a company's profit and loss structure.
If you require a specific response in this regard, we invite you to make use of the 🔗customs attorney legal consultation booking to help establish a more stable foundation for your business operations.
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