The head of the world’s biggest tanker operator warned that shipowners will not resume transit through the Strait of Hormuz for “weeks” until they are confident that the US-Iran deal is “material.”
Jotaro Tamura, chief executive of Japan’s Mitsui OSK Lines, told the Financial Times that many operators would wait before restarting crossings despite the to reopen the strait.
“What will have to come in place is not just a simple agreement between the relevant countries, but it has to be material and translated into the real situations in the , so that shipping lines can make themselves comfortable to go through,” Mitsui OSK’s Jotaro Tamura said in the interview published on Tuesday.
Quick answers to key questions
How long will it take for tanker operations to resume in the Strait of Hormuz after the US-Iran deal?⌵
Tanker operations in the Strait of Hormuz may take ‘weeks’ or even ‘a month’ to resume, as shipowners are cautious and will wait until they are confident the deal is material.
What conditions must be met for shipping lines to feel comfortable resuming transit through the Strait of Hormuz?⌵
Shipping lines need the US-Iran deal to be not just a simple agreement, but to be material and reflected in real situations, ensuring safety and confidence in transit.
Why are tanker operators hesitant to restart operations in the Strait of Hormuz despite the peace deal?⌵
Tanker operators are hesitant because there have been multiple false starts in reopening the strait, and they need assurance of safety before restarting crossings.
What are the implications of President Trump’s statements regarding the Strait of Hormuz?⌵
President Trump’s claims that the Strait of Hormuz is safe and toll-free highlight a divergence from industry skepticism, as many shippers still await additional clarity before resuming operations.
What is the status of the US-Iran deal’s impact on oil supply in relation to the Strait of Hormuz?⌵
The US-Iran deal aims to reopen the Strait of Hormuz, a key shipping lane for global oil supply, but actual oil supply normalization may not occur until late July due to logistical challenges.
Tamura noted that there had been multiple false starts over the waterway’s reopening since the erupted in late February.
“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,” he was quoted as saying.
What has Trump said on opening of Strait of Hormuz
Tamura’s made the remarks despite saying that there is a “safe, secure and pristine” route through the strait.
“Ships are starting to move, many loaded up with Oil, out of the They are going along the Southern “Highway,” which is totally safe, secure, and pristine. There are other areas of travel, also!!!,” Trump posted on TRUTH Social on Monday.
In a series of posts, Trump claimed that the deal with the Islamic Republic of Iran is “now complete.”
He also “fully authorize[d] the toll free opening of the Strait of Hormuz, and, simultaneously herewith, authorize[d] the immediate removal of the .”
He said, “Ships of the World, start your engines. Let the oil flow!”
Trump said the deal will be signed on Friday. “With the opening of the Strait upon the signing of the Deal on Friday, for purposes of mine removal, oil will flow on both ends again for the Region, and the World,” the President added.
He also claimed that Iran has agreed to never have a nuclear weapon. “Also, the story that the U.S. is paying Iran 300 million Dollars is Fake News, put out by the Dumocrats!!!m” he said.
The interim deal between the US and Iran will likely to extend a tenuous ceasefire announced in April by another 60 days and reopen the Strait of Hormuz, which Iran has effectively blocked since the US and Israel attacked Iran in February, Reuters reported.
Negotiators would address difficult issues like the future of Iran’s nuclear programme during the next phase of talks, which Iranian Foreign Minister Abbas Araqchi said would start in Switzerland on Friday after the formal signing of the framework deal, as per the report.
said on Tuesday that the Iran deal was done and would move to a second stage, which he said would be “easier,” while speaking to reporters during a meeting with the Emir of Qatar in Evian-les-Bains, France.
