Tanker CEO: Hormuz transits won’t resume for weeks

Jotaro Tamura, chief executive of Mitsui OSK Lines, said shipowners will not return to regular sailings through the Strait of Hormuz for weeks even after a US‑Iran agreement is completed. He said any deal must be “material” and prove safe in practice before lines feel secure to resume routine passages.

Tamura estimated a resumption of traffic could take at least a couple of weeks or up to a month. “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 said.

The Strait of Hormuz previously carried more than one‑fifth of global crude oil and liquefied natural gas shipments. Vessel transits have fallen sharply since the conflict began in late February. Between June 10 and 14, tracking data recorded 29 crossings, compared with about 150 daily transits before the disruption.

The drop has prompted shipowners to reroute vessels around the Arabian Peninsula or hold them offshore, increasing voyage times and costs for affected shipments.

Tamura pointed to repeated false starts over recent months as a reason for caution among operators. He said a signed document alone would not be enough and that the terms of any arrangement must hold up on the water and reflect actual conditions inside the strait.

Mitsui OSK Lines operates a fleet of more than 900 vessels. The company moved four ships out of the Gulf ahead of the expected accord and has not paid fees to Iran. Company officials say at least seven vessels remain waiting to transit.

Some cargoes have begun to move through the corridor. An India‑flagged LNG tanker, Disha, cleared the strait carrying about 62,370 tonnes of gas. Officials reported that 10 India‑flagged and five foreign‑flagged ships have crossed since the announcement.

The expected agreement is due to be signed later this week in Geneva. How quickly traffic returns to earlier levels will depend on whether owners observe sustained, verifiable improvements to security and navigation inside the strait, and on signals from insurers and charterers that risk levels have fallen.

Until those conditions are met, many owners are keeping vessels on longer routes or delaying voyages rather than transit the corridor.