US-Iran Ceasefire Boosts Gulf Markets as Shipping Giants Remain Cautious

GCC equity markets surged following the US-Iran ceasefire, bolstered by Tehran's official reopening of the Strait of Hormuz. In a landmark development, the Pakistan-flagged tanker 'Shalamar' became the first vessel to ship crude through the strait since the U.S. blockade began. The Aframax-size vessel is carrying approximately 450,000 barrels of crude loaded at Das Island in the UAE, destined for Karachi. While this physical shipment marks a practical end to the maritime blockade, shipping giants like Maersk maintain a cautious stance regarding long-term safety protocols. Analysts suggest the successful transit of the 'Shalamar' is a critical step in reducing geopolitical risk premiums. The focus remains on the consistent and safe flow of global energy supplies through this vital waterway.