Deep Dive Inside the World's Oil Chokepoints

The report analyzes global maritime chokepoints and the legal frameworks governing them, specifically UNCLOS and the potential for Iran to impose 'service fees' in the Strait of Hormuz.

Key Takeaways

• 1.Approximately 67% of global oil is transported by sea, with 62% passing through four primary chokepoints: Panama, Suez, Hormuz, and Malacca.
• 2.UNCLOS prohibits direct transit tolls in international straits but allows fees for 'specific services' like pilotage or environmental protection, which states may use as a legal loophole to generate revenue.
• 3.Iran and Oman may shift from military threats to a regulatory strategy in the Strait of Hormuz, imposing fees for vessel traffic management and security to monetize their geographic position.

Table of Contents

• Oil liquids flow through global chokepoints
• The traditional five high-risk chokepoints
• UNCLOS and Maritime Law
• Waterway-specific treaty arrangements
• Strategy for the Strait of Hormuz

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