Tufton: Ships still avoiding Hormuz despite Iran peace talks hype

Nikos Petrakakos, Managing Director of Investments at maritime investment manager Tufton, tells CNBC that most ships currently crossing the Strait of Hormuz are those that have been stranded since the outbreak of the Iran war. He says other ships and tankers remain reluctant to enter the Strait amid uncertainty over the fragile U.S.-Iran interim peace deal, adding that traffic is unlikely to return near pre-war levels until there is greater clarity on a lasting deal.