Eight of the world’s largest shipping industry associations urged the United Nations and International Maritime Organisation to oppose any compulsory tolls or transit charges in the Strait of Hormuz, warning that such a move could set a precedent for similar fees at other key maritime choke points. “Once such a precedent is established, it becomes increasingly difficult to resist similar measures elsewhere, creating uncertainty for international shipping and global commerce,” wrote the group, which included the International Chamber of Shipping, BIMCO, the World Shipping Council and others. The prospect of Iran imposing transit fees in Hormuz has focused attention on the fragility of global supply chains and raised concerns over how maritime choke points could be managed in future. ADVERTISEMENT: CONTINUE READING BELOWMeanwhile, Oman has told the IMO that it opposes mandatory transit charges in the strait. The US, Iran and Oman are nearing a 60-day agreement on shipping through Hormuz that would involve no tolls or fees, Axios reported Monday, though it’s unclear what would happen after that time period.