The U.S. had issued what was supposed to be a 60-day authorization in late June, as part of a tenuous peace agreement with Iran to reopen the Strait of Hormuz.

Industry groups have cautioned that even though a ceasefire between the U.S. and Iran remains in place, the presence of mines is a major risk for ships.

The two countries have a vital interest in maintaining security in the straits, including from accidents and piracy, Indonesian President Prabowo Subianto said.

The two carriers said they’re redirecting a service that links the southern Mediterranean with China through the Red Sea and Suez Canal.

SCPA noted that this represents a short-term decision, although it's unclear when the Leatherman terminal might reopen down the line.

Iran's joint military command issued the warning on July 2, a day after U.S. and Iranian diplomats met with mediators in Qatar. 

Transpacific shipping rates to the West Coast have more than doubled since mid-May, while Asia to Europe rates have been up 70-80%.

Ranges for both underlying EBITDA and EBIT were increased, topping analysts estimates, and free cash flow will also be better than previously expected, Maersk said.

Iran continues to assert that the only route is its corridor and that all vessels require its permission, regardless of any agreements.

The U.S. is leaning on Oman, which also borders the strait, not to create a joint tolling system with Iran.