despite a us-iran memorandum of understanding and a new un-oman maritime corridor through the strait of hormuz, more than 1,200 cargo vessels carrying approximately $125 billion in goods remain stranded as of june 24. a phased evacuation of over 11,000 stranded seafarers is underway, and the disruption has materially repriced insurance risk assessments for major maritime chokepoints globally — a structural shift that does not reverse when the corridor opens.