New Delhi, June 16: A leading global shipping company has announced it will not send vessels through the Strait of Hormuz, even after a peace deal between the US and Iran.
Mitsui O.S.K. Lines (MOL) from Japan stated that shipowners will refrain from immediate operations in Hormuz, despite the agreement between the two nations.
In an interview with the Financial Times, MOL’s CEO, Jotaro Tamura, emphasized that shipping companies will wait until they are confident that the US-Iran agreement is not merely a paper arrangement but has tangible effects on the ground.
Tamura remarked, “A simple agreement between the involved countries is not sufficient. It is crucial that the impact is clearly visible in the actual conditions of Hormuz. Only then will shipping companies feel secure enough to resume operations.”
He indicated that it may take several weeks before normal traffic of oil tankers and cargo ships through Hormuz can be restored.
US President Donald Trump claimed that with the announcement of the agreement, the route through the Strait of Hormuz is now “safe, secure, and completely normal.” However, this waterway has been nearly closed since the end of February.
Tamura made these comments prior to Trump’s announcement of the US-Iran peace deal. Nevertheless, MOL clarified on Monday that Tamura’s assessment remains unchanged despite the finalization of the agreement.
MOL is one of the largest tanker operating companies globally, with over 900 vessels, including more than 200 dedicated to transporting crude oil, petroleum products, and chemicals. Based on the number of ships, it is considered the world’s largest tanker operator.
Meanwhile, the Secretary-General of the International Maritime Organization (IMO), Arsenio Dominguez, stated that the organization is assessing how to safely and securely navigate vessels. He mentioned that measures are being considered to avoid potential challenges such as maritime mines and overcrowding, which could increase the risk of accidents.
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