That distinction reframed our whole talk. Tankers are pouring out through the Omani channel, dragging months of barnacles behind them.
But the metric that actually matters is the fixtures, contracts being booked to send empty ships back in to load.
Until that flood of vessels returns with their eyes on Hormuz, Sal says he has serious doubts this is over
His read on who controls the strait is the sharp part.
Iran never signed the UN convention on the law of the sea, but neither did the US, which guts Rubio every time he stands on a tarmac calling Tehran's moves illegal.
Iran won't charge a "toll," that word is radioactive.
Instead they'll build a traffic authority and bill for services: mandatory tugs, Iranian insurance, registration.
DEATH by surcharge.
It takes almost nothing to spook shipping.
Just the threat of a mine, a drone, a voice on the radio. Iran learned that from the Houthis
One detail that made the whole interview: Iran's new shipping registration portal lists "State of Palestine" as an origin country.
Israel isn't on the dropdown AT ALL.
@mercoglianos
