KUALA LUMPUR (April 7): One of the seven Malaysian-owned commercial ships previously stranded in the Strait of Hormuz has been granted safe passage. The vessel is now proceeding to its final destination, the Ministry of Foreign Affairs said in a statement on Tuesday. “Malaysia remains firmly committed to the principle of freedom of navigation, safety and security of maritime passage, in accordance with international law,” the ministry added. Iran has closed the Strait of Hormuz in response to US-Israel military strikes and began charging tolls on the world's most critical chokepoint. A "very large crude oil carrier" — a massive tanker also known as VLCC used to transport crude oil — could hold about two million barrels of crude oil.

Source: The Edge Markets April 07, 2026 01:17 UTC