The number of ships transiting the Strait of Hormuz has more than quadrupled in the past week, the Financial Times reported on Friday.

It was added that the increase in shipping activity indicates that ship owners now believe that their ships will now be able to safely pass through the strait.

But at the same time, the respective indicators are still significantly lower than the levels that were before the start of the Iranian conflict.

On June 17, the US and Iran remotely signed a memorandum of understanding consisting of 14 points. According to the fifth point of this memorandum, immediately after its signing, Iran was to take measures to ensure safe and free passage through the Strait of Hormuz for 60 days, during which the parties would continue negotiations. The same point added that Iran would hold talks with Oman over the future of the Strait of Hormuz.