The Strait of Hormuz. (maps4media/Bloomberg)Key Takeaways: Eight shipping associations urged the United Nations and International Maritime Organization to oppose compulsory Strait of Hormuz transit fees in an Aug. 3 letter. The groups warned such charges would undermine navigation rules and could encourage similar fees at other maritime chokepoints, creating uncertainty for shipping. Oman opposes mandatory fees while U.S., Iranian and Omani officials reportedly near a 60-day shipping agreement with no tolls, though longer-term plans remain unclear. 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 chokepoints could be managed in future.