Shipowners hold off on Hormuz transit until US-Iran deal proves ‘material’ (opens original article in a new tab)

Shipowners are delaying transit through the Strait of Hormuz until a material US-Iran deal is confirmed, following a war that disrupted global oil and LNG supplies.

• Shipowners will delay transit through the Strait of Hormuz until a material US-Iran deal is confirmed
• The Iran war halted shipping through the Strait affecting 20% of global oil and LNG supply
• Mitsui O.S.K. CEO states a real-world impact in the Strait is needed for shipping lines to resume operations