Shipowners will not resume transit through the Strait of Hormuz for weeks until they are confident that the US-Iran deal is “material”, the head of the world’s biggest tanker operator has warned.
Jotaro Tamura, chief executive of Mitsui OSK Lines, told the FT that many operators would wait before restarting crossings despite the US-Iran deal to reopen the strait.
US President Donald Trump has insisted there is a “safe, secure and pristine” route through the strait, which has been almost completely shut since late February. Sunday’s deal sent the price of Brent crude lower but Tamura said traffic would not immediately return to normal.
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