Around 1,150 cargo-carrying ships with an estimated ‌vessel and freight value of $125 billion and as many as 20,000 seafarers are waiting to resume operations in the Gulf after the Iran war shut the Strait ‌of Hormuz, Allianz Research said on ​Wednesday.

"Even if the US and Iran agreement holds and the Strait of Hormuz is ⁠reopened properly, solid assurances of safe passage will ​be required, involving the international community, particularly if traffic ⁠is to return to its pre-war levels, up to as many as 140 vessels a day," the Munich-based ‌insurance group said.

Marine insurance cover has ​been available throughout ‌the conflict with increased premiums, Allianz said.

"However, the real issue ‌for shipowners has been more about the risk to the crew and the vessel when transiting ⁠a conflict zone, rather than ‌pure insurance considerations," ⁠it added.

For the 1,150 vessels, Allianz counted vessels with ⁠a gross ⁠tonnage of over 100 GT.

According to the estimate, cargo ‌with a volume of 29 million GT is awaiting passage through the strait.

The United Nations' shipping ‌agency ​said on Tuesday ‌that an evacuation plan to enable hundreds of ships with some 11,000 seafarers stranded in ​the Gulf is underway.