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.

(Reporting by ​Thomas Seythal; Editing by Sharon Singleton)