Strait of Hormuz transit will take ‘weeks’ to resume, largest tanker operator tells FT
Key takeaways
- Add ARY News on Google AAResize Shipowners will not resume transit through the Strait of Hormuz for weeks until they are confident that the U.S.-Iran deal is “material”, the chief executive of Japan’s Mitsui O.S.K.
- Mitsui O.S.K., one of Japan’s big three shipping firms has a fleet of more than 900 vessels, including bulk carriers, tankers and ferries.
- “Given the experiences in the last couple of months, I think it’s reasonable to assume that it may take at least a couple of weeks or if not a month,” Tamura told the paper.
Why this matters: local context for readers following news across Pakistan and the region.
Add ARY News on Google AAResize Shipowners will not resume transit through the Strait of Hormuz for weeks until they are confident that the U.S.-Iran deal is “material”, the chief executive of Japan’s Mitsui O.S.K. Lines told the Financial Times in an interview published on Tuesday.
The Iran war that began on February 28 with U.S.-Israeli strikes largely stopped shipping through the transit route for around a fifth of the world’s oil and liquefied natural gas supply, along with products such as aluminium and urea.
Mitsui O.S.K., one of Japan’s big three shipping firms has a fleet of more than 900 vessels, including bulk carriers, tankers and ferries.