LONDON, June 16 (Xinhua) — Shipping traffic through the Strait of Hormuz is unlikely to return to normal immediately despite a U.S.-Iran agreement to reopen the key waterway, the Financial Times reported on Tuesday, citing the head of tanker operator Mitsui OSK Lines.
Jotaro Tamura, chief executive of Mitsui OSK Lines, the world’s largest tanker operator by number of vessels, told the British newspaper that many operators would remain cautious before resuming transits through the strait as shipowners wait for clearer evidence that the deal will translate into safe passage.
“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 Strait of Hormuz, so that shipping lines can make themselves comfortable to go through,” he said.
Tamura said that, given repeated setbacks in recent months to efforts to reopen the waterway, it would be reasonable to expect the recovery to take at least a couple of weeks, or even a month.
The Strait of Hormuz is one of the world’s most important energy shipping routes. Before the conflict, more than one-fifth of global oil and liquefied natural gas moved through the waterway, which is also important for grain and consumer goods shipments into the Gulf. Daily traffic through the strait stood at about 135 vessels before the conflict but has since fallen sharply, according to the paper.
Mitsui OSK Lines operates more than 900 ships, including over 200 tankers carrying crude oil, petroleum products and chemicals. Tamura said the Japanese company had moved four vessels out of the Gulf before the agreement was reached, while at least seven of its ships were still waiting to transit the strait.
The uncertainty has prompted calls for a coordinated reopening process. Other shipping companies and shipowners have urged the International Maritime Organization (IMO), a United Nations agency, to coordinate the departure of around 500 vessels that need to pass through the strait to leave the Gulf.
IMO Secretary-General Arsenio Dominguez said the organization was assessing whether vessels could resume transit and trade safely while avoiding hazards such as mines and congestion. He said the IMO was also working on a safe evacuation corridor for seafarers stranded in the Gulf for more than 100 days.
Hapag-Lloyd, one of the largest container shipping lines, said the news of a peace deal was encouraging and that it hoped its stranded vessels would be able to leave soon. Philip Belcher, marine director of tanker industry association Intertanko, urged a cautious approach and said vessels should conduct ship-specific risk assessments before sailing.
The report came as the United States and Iran moved toward a formal agreement after nearly four months of conflict. The U.S. officials said on Monday that the two sides had signed a memorandum of understanding to end the conflict, with a formal signing ceremony expected on Friday.
