Iran to waive Strait of Hormuz fees during 60-day negotiations

Iran to waive Strait of Hormuz fees during 60-day negotiations Iran 's Strait of Hormuz authority said on Friday it would waive planned fees to use the waterway during the 60-day negotiation period under the memorandum of understanding signed with the United States this week. Ships seeking passage through the strait while the interim agreement is in force must submit transit requests at least 48 hours before arrival, the Persian Gulf Strait Authority (PGSA) said in a notice. Iran will waive fees for security, safety, environmental services and related insurance during the 60-day window, while requiring vessels to coordinate routes and transit times in advance to avoid mine-affected areas, according to PGSA.