ICC is supporting a new confidence-building mechanism developed by the UN Secretary-General’s Strait of Hormuz Task Force to facilitate safe, orderly and predictable maritime transit through one of the world’s most critical trade routes.
The proposed mechanism establishes a practical framework for the registration, deconfliction, prioritisation, facilitation, monitoring, verification and reporting of vessel movements through the Strait, with an initial focus on fertilisers and related raw materials.
A statement issued by United Nations Office for Project Services (UNOPS) Executive Director Jorge Moreira da Silva, who coordinates the UN Strait of Hormuz Task Force, highlights the urgent need for such practical action amid continued disruption to shipping which is putting global supply chains, livelihoods and food security at risk. (....)