IMO Negotiating Evacuation Corridor for Seafarers

Watch on YouTube ↗  |  March 28, 2026 at 13:04  |  8:50  |  Bloomberg Markets

Summary

  • 20,000 seafarers are stranded on approximately 2,000 vessels in and around the Strait of Hormuz due to the US-Iran conflict, with daily vessel traffic plummeting from ~130 to only 2-5 ships.
  • IMO Secretary-General Arsenio Dominguez emphasizes de-escalation as the critical path to restoring normal trade and ensuring seafarer safety.
  • Diplomatic negotiations are focused on establishing a humanitarian evacuation corridor, with Iran as a key party; operational traffic separation schemes have existed since 1968, but political will is lacking.
  • US offers of military escorts are viewed as risky and unsustainable due to the narrow strait (~30 km wide) and persistent threat of drones/missiles; Dominguez prefers a diplomatic agreement.
  • Seafarer welfare is deteriorating: supplies are running low, and mental health support is provided via 24/7 helplines and remote assistance from companies and countries.
  • Cargo concerns include unstable perishable goods like fertilizer, but onboard seafarers manage these risks; evacuation corridors would prioritize ships with urgent needs.
  • The shipping standstill has global trade implications, underscoring the necessity of freedom of navigation and avoiding seafarers as collateral damage.
  • IMO is tracking limited ship movements and facilitating direct talks with all member states, including the US and Iran, to coordinate a solution.
  • The situation highlights the fragility of key maritime chokepoints and the need for international cooperation to mitigate supply chain disruptions.
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