TOKYO: Global shipping companies are unlikely to resume regular transit through the Strait of Hormuz for several weeks, even after the recent understanding between the United States and Iran, according to the head of Japan’s largest tanker operator.
Jotaro Tamura, Chief Executive Officer of Mitsui OSK Lines, said on Tuesday that shipping firms would require clear evidence that the agreement had resulted in a genuine improvement in security conditions before vessels could safely return to the strategic waterway. Tamura stressed that a diplomatic agreement alone would not be sufficient to restore confidence among shipowners.
“What will have to be in place is not just a simple agreement between the relevant countries, but it must be material and reflected in the actual situation in the Strait of Hormuz, so that shipping lines can feel comfortable transiting through,” he said, according to the Financial Times.
The Strait of Hormuz, situated between Oman and Iran, is one of the world’s most important maritime chokepoints, carrying a significant share of global oil and liquefied natural gas exports. Heightened tensions and disruptions in recent months prompted many shipping companies to avoid the route or adopt additional security measures.
Industry observers say the pace of any return to normal operations will depend largely on the durability of the US-Iran understanding and whether it leads to sustained stability in the Gulf region.
Mitsui OSK Lines, one of the world’s largest shipping companies and a major operator of oil tankers, is closely watched by the maritime industry, making its assessment an important indicator of broader market sentiment.
The comments suggest that despite diplomatic progress, commercial shipping operators remain cautious and are seeking concrete signs that navigation through the Strait of Hormuz can be conducted without heightened risks.
