World’s largest tanker operator demands concrete safety guarantees before resuming shipments through the Strait of Hormuz.
Mitsui OSK Lines, the world’s largest tanker operator, is delaying a return to the Strait of Hormuz despite optimism over a U.S.-Iran deal. CEO Jotaro Tamura stated that a “material” agreement and safety assurances are required before resuming operations in the critical oil chokepoint.
Tanker operators remain cautious after years of geopolitical tensions disrupted Middle East oil flows. Previous disruptions caused spikes in freight rates and supply chain bottlenecks, prompting operators to prioritize risk mitigation over immediate gains.
No immediate market reaction was reported, but prolonged hesitation could tighten oil transport capacity and pressure freight rates.