Mitsui OSK expects Hormuz shipping restart to take weeks
What's next: The carrier said sailings will stay paused until safety is verified with governments, insurers and other stakeholders.
Mitsui OSK Lines expects commercial transit through the Strait of Hormuz to remain disrupted for weeks, even as Washington and Tehran finalize a deal to end the Iran war. Chief Executive Jotaro Tamura told the Financial Times that shipping companies will need proof that conditions in the waterway have materially improved before sending vessels back. In an emailed statement, Mitsui O.S.K. said operations would not resume until safety had been sufficiently confirmed and that any restart would require coordination with relevant governments, insurers and other stakeholders. The strait handles about a fifth of global oil and liquefied natural gas supply, and traffic was largely halted after the war began on Feb. 28.