Hormuz reopening must be reflected in reality, shipping executive says

Hormuz reopening must be reflected in reality, shipping executive says Shipowners are unlikely to resume regular transit through the Strait of Hormuz for several weeks despite the Iran-US agreement, according to the chief executive of Japan's Mitsui OSK Lines (MOL). Speaking to the Financial Times before the deal was announced, Jotaro Tamura said confidence would depend on conditions in the waterway rather than diplomatic declarations alone. "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.