Shipowners are unlikely to resume full transit through the Strait of Hormuz for weeks despite a U.S.-Iran ceasefire agreement, until they are confident the deal is stable and “material,” the chief executive of Mitsui O.S.K. Lines said in comments published Tuesday.
The waterway, a critical global energy corridor, has seen major disruptions since the conflict between the United States and Iran escalated in late February, effectively halting normal shipping through a route that carries roughly one-fifth of the world’s oil and liquefied natural gas, along with key commodities such as aluminum and urea.
“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,” Jotaro Tamura told the Financial Times, speaking before President Donald Trump announced an agreement aimed at ending the war in Iran.
Tamura said the interim deal has not altered his assessment of risk, according to the report.
“We recognize that there are signs of movement toward a ceasefire. However, operations will not be resumed until safety has been sufficiently confirmed,” Mitsui O.S.K. Lines said in an emailed statement to Reuters.
The company added that any restart of shipping through the strait would require coordination among governments, insurers and other stakeholders to ensure safe passage.
“The resumption of transit will require close coordination with the governments of the relevant countries, insurers, and other stakeholders,” the Japanese shipping group said.
Mitsui O.S.K. Lines, one of Japan’s largest shipping companies, operates a fleet of more than 900 vessels, including tankers, bulk carriers and ferries.
Trump said Monday in a post on Truth Social that oil tankers were already moving through the strait and described the passage as a “Southern ‘Highway’” that was “totally safe, secure, and pristine,” though industry participants continue to assess conditions cautiously.
