Post by Liza Camelia Suryanata, S.E.

Head of Research KIWOOM SEKURITAS INDONESIA

Trump has declared the US the “Guardian of the Strait of Hormuz” and proposed a 20% fee on all cargo passing through the waterway. (Source: Business Today https://lnkd.in/gBFUrMwz) A mandatory 20% cargo fee is most likely unworkable — and would almost certainly face opposition from governments, shipping companies, importers, and the courts. Do we seriously still need to explain why this is a bad idea? LOL. 😆🙈 Now here comes the Indonesia angle. If this logic were acceptable, then Indonesia could make a similar claim over the Strait of Malacca — a waterway bordering Indonesian sovereign territory and, in fact, even busier than the Strait of Hormuz. Just look at the numbers: • Strait of Malacca handled 102,525 vessels in 2025, or about 281 ships /day • Strait of Hormuz normally sees around 100–130 ships /day before the war • Oil flow through Malacca reached 23.2 million barrels/day in 1H25 • Oil flow through Hormuz stood at 20.9 million barrels/day • Reuters notes Malacca carries nearly 22% of global maritime trade and is the only major oil chokepoint whose volume exceeds Hormuz. Under Trump’s reasoning, this could look like a “golden opportunity” for Indonesia to impose its own maritime toll and boost state revenue. 😅 So why didn’t Indonesia proceed with that idea? Because an international strait is not a private toll road — even if a country claims to be its “guardian.” 🚢🌏