How a 20% Toll at the Strait of Hormuz Could Raise Shipping Costs

President Donald Trump has said the United States will reinstate a blockade of Iranian shipping and will charge a 20% toll on cargo that transits the Strait of Hormuz. He announced the move on July 13, 2026, and said the fee will reimburse the United States for protecting ships. The International Maritime Organization has reaffirmed that passage through international straits should remain free of mandatory tolls, and several governments have expressed concern while they review the proposal.

The measure has already affected markets: oil prices have jumped and some insurers have canceled or raised war‑risk cover for Gulf transits. Shipping companies have been rerouting vessels around Africa or pausing voyages, which has raised voyage times and fuel use. Industry analysts say the 20% toll, together with higher insurance and detours, could more than double the cost of moving some oil cargos through the region. Although exact impacts will vary by route and contract, higher shipping costs typically push up fuel and import prices for many countries, and supply chains have been strained since the start of the conflict.