Buying certainty: How Hormuz is redefining global shipping

At the recent Lianhe Zaobao Singapore-China Forum 2026 in Singapore, Professor Joseph Liow, dean of the Lee Kuan Yew School of Public Policy and chairman of the Middle East Institute at the National University of Singapore, suggested that the Strait of Hormuz (SOH) may be entering a “new normal”, one in which Iran — and perhaps Oman — could justify charging vessels fees for transiting one of the world’s most important waterways.

Photo by Indra Beaufort via CENTCOM

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