1,550 Ships Trapped in Persian Gulf as US Pauses Escorts

Hundreds of vessels carrying oil, fertilizers, and other goods remain trapped in the Persian Gulf more than two months into the war with Iran, as shipping companies face soaring costs and persistent dangers in navigating the Strait of Hormuz.

President Donald Trump announced Project Freedom on Sunday, a U.S. initiative to escort ships out of the strait. Two vessels completed the transit, including Maersk's U.S.-flagged Alliance Fairfax vehicle carrier on Monday, which exited without incident under U.S. military protection, according to the company. However, Trump paused the effort on Tuesday to allow time for negotiations toward ending the conflict.

Risks remain high. A cargo container ship operated by the French firm CMA CGM Group sustained damage Wednesday after coming under attack during an attempt to pass through the strait. Iranian speedboats and drones continue to pose threats, prompting major operators to deem the route unsafe. "Ultimately, it's still going to come back to the primary issues of risk and safety that shippers have to evaluate," said Sean Pribyl, a maritime attorney at Holland & Knight in Washington, D.C. "It seems as though we're not anywhere near to...