NEW YORK CITY, New York: Global shipping companies are facing mounting costs and uncertainty as hundreds of vessels remain stranded near the Strait of Hormuz more than two months into the Iran war, with no clear timeline for a full reopening of the critical trade route.

Conflicting signals from Washington and continuing security threats in the region have left ship operators struggling to assess whether it is safe to resume normal traffic through one of the world's most important energy corridors.

Over the weekend, U.S. President Donald Trump announced "Project Freedom," an initiative aimed at helping ships leave the strait under U.S. guidance. Two ships completed the transit before the effort was abruptly paused on Tuesday to allow room for negotiations aimed at ending the conflict.

Despite the move, major shipping firms say the route remains highly dangerous.

French shipping giant CMA CGM Group said one of its container vessels was damaged during an attack while attempting to transit the strait. "Ultimately, it's still going to come back to the primary issues of risk and safety," said Sean Pribyl, a maritime attorney at Holland & Knight in Washington, D.C.

"It seems as though we're not anywhere near to returning to a free flow of traffic and navigation through the strait," he added.

Before the war, between 100 and 135 vessels passed through the Strait of Hormuz daily, according to Lloyd's List Intelligence. Traffic has since slowed sharply as Iran introduced a vetting system overseen by the Islamic Revolutionary Guard Corps for ships seeking safe passage.

The process requires vessels to travel close to Iran's coastline, disclose cargo and crew details and, in some cases, pay fees. However, companies risk violating U.S. and European sanctions because the IRGC is designated as a terrorist organisation by both jurisdictions.

The disruption has trapped oil, fuel products and thousands of maritime workers inside the Persian Gulf.

Air Force Gen. Dan Caine, chairman of the Joint Chiefs of Staff, said this week there are more than 1,550 vessels carrying about 22,500 mariners currently inside the Gulf.

Insurance costs have also surged during the conflict. Ed Anderson, a supply chain and operations management professor at the University of Texas, said war-risk insurance rates have climbed from less than 1 percent of cargo value before the war to between 3 percent and 10 percent.

"Ferrying out a couple of ships has not really affected the shipping industry in any way whatsoever," he said.

German container shipping company Hapag-Lloyd said the crisis is costing it roughly US$60 million per week due to higher insurance and fuel costs. Four of its vessels remain stranded inside the Persian Gulf.

The company said it has been forced to suspend some services and seek alternative land and sea routes, though these cannot fully replace regular shipping lanes through the region.

Meanwhile, Danish shipping giant Maersk said one of its U.S.-flagged vehicle carriers successfully exited the Gulf under U.S. military escort at the start of the week.

Analysts say shipping and energy markets are unlikely to stabilise quickly even if diplomatic efforts succeed.

"Even with diplomatic engagement continuing, energy markets are unlikely to return quickly to precrisis assumptions," said Kaho Yu, head of energy and resources at risk intelligence firm Verisk Maplecroft.

Experts say shipping firms, insurers and commodity traders will likely remain cautious until they see sustained evidence that attacks and disruptions in Hormuz will not flare up again.