BIMCO
Baltic and International Maritime Council, the world's largest direct-membership shipping organisation; withheld updated Hormuz safety guidance as of 7 May 2026.
Last refreshed: 7 May 2026 · Appears in 1 active topic
Why won't BIMCO tell shipowners whether to register with Iran's Hormuz toll authority?
Timeline for BIMCO
Iran's strait authority opens to silence
Iran Conflict 2026- What is BIMCO and why does its Hormuz guidance matter?
- BIMCO (Baltic and International Maritime Council) is the world's largest shipping organisation representing ~65% of global tonnage. Its safety advisories are referenced in standard charter contracts, so a BIMCO Hormuz rating directly affects insurance, deviation rights, and vessel scheduling.Source: BIMCO / Lowdown
- Has BIMCO advised ships to use Iran's Hormuz toll system?
- As of 7 May 2026, BIMCO had not issued updated Hormuz safety guidance following Iran's creation of the Persian Gulf Strait Authority, leaving vessel operators without authoritative industry direction on registering with the PGSA.Source: Lowdown
- How does BIMCO's silence on PGSA affect shipping insurance?
- Most war-risk insurance clauses reference industry advisories. Without a BIMCO advisory classifying the PGSA or the Hormuz corridor, underwriters are applying their own judgement, resulting in wider premium spreads and inconsistent cover terms.Source: Lowdown
Background
The Baltic and International Maritime Council (BIMCO) is the world's largest international shipping organisation by direct membership, representing shipowners, operators, managers, brokers and agents responsible for roughly 65 per cent of global tonnage. Founded in 1905 in Copenhagen, BIMCO sets standard contracts, issues safety advisories, and represents the industry to governments and international bodies including IMO. As of 7 May 2026, BIMCO had not updated its Strait of Hormuz safety guidance following Iran's creation of the Persian Gulf Strait Authority and its transit toll regime, leaving vessel operators without authoritative industry direction on whether to register with Iran's PGSA.
BIMCO's guidance carries commercial weight because most standard time-charter contracts contain war-risk clauses referencing industry advisory bodies; a BIMCO advisory rating an area as a war zone or high-risk zone can trigger additional premium requirements or deviation rights for vessels. The organisation's silence after the PGSA launch — with zero registrations in the first 24 hours — reflects the industry's collective caution about acknowledging or engaging with an authority whose legal status is contested.
The withholding of guidance is itself a signal: BIMCO's standard practice after a major maritime legal development is to issue an advisory within 24-48 hours. The gap indicates either legal uncertainty about whether engagement constitutes implicit recognition of the PGSA's authority, or diplomatic pressure from flag states.
