Hormuz Disruptions Could Drag Into Next Year, Japanese Tanker Giant Warns
Japan’s Mitsui OSK Lines, the world’s largest tanker operator, expects the shipping disruptions at the Strait of Hormuz to continue for longer than previously expected, with no normalization by the end of the year, due to this week’s re-escalation of hostilities. “Given the current situation, it’s difficult to see operations resuming in any form by the end of the year,” Mitsui OSK Lines’ chief…
Japan's Mitsui OSK Lines, the world's largest tanker operator, anticipates that shipping disruptions in the Strait of Hormuz will persist beyond the end of the year, according to the company's CEO, Jotaro Tamura. This expectation comes as a result of the recent re-escalation of hostilities between the U.S. and Iran. Mitsui OSK Lines had previously assumed that navigation around the Strait would gradually resume in October 2026 and become normalized in January 2027.
However, the escalation of hostilities has led to a deterioration of the situation, with the company no longer planning to return to shipping oil through the Strait due to the elevated risks. Mitsui OSK Lines requires guarantees and evidence of sustainably safe passage before considering resuming shipping through the Strait. The recent flare-up of hostilities has resulted in a significant decrease in traffic at the Strait of Hormuz, with only a handful of observable transits per day.
This development has raised concerns about the tentative recovery of oil flows from the Middle East.
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