The Strait of Hormuz is supposed to be 'open' now, based on the MoU framework, though things are expected to be extremely slow moving, despite signs of life in terms of an increased transit flow becoming evident only this week.

The saga of just how hundreds of ships will traverse is developing and tenuous: "The UN's International Maritime Organization says it will begin evacuating more than 11,000 sailors stranded in the Gulf due to the Middle East war," per AFP.

"This large-scale operation will be carried out in close cooperation with Iran, Oman, all other coastal States in the region, the United States and the maritime industry," IMO secretary-general Arsenio Dominguez stated Tuesday.

"We have secured the necessary safety guarantees and have thoroughly verified the conditions for safe navigation to support these operations," he adds.

Presumably this simply means UN assistance in seeing the stranded crew make safe passage with their cargo and on their ships. Reuters explains:

According to a backgrounder in the NY Times:

Scant details have been issued by the International Maritime Organization. There's a backlog of some 500 or 600 vessels, but some are making it through this week.

Notably, lead crew members or captains have all along not abandoned their tens of millions or hundreds of millions in precious commodities/cargo - especially after already enduring the blockade for this long.