Shipowners will not resume transit through the Strait of Hormuz for weeks until they are confident that the U.S.-Iran peace deal is "material", the CEO of Japan's Mitsui O.S.K. Lines 9104.T told the Financial Times in an interview published on Tuesday.
The war, which began in late February, has largely halted shipping through the key route for around a fifth of the world's oil and liquefied natural gas supply, along with products such as aluminum and urea.
"Given the experiences in the last couple of months, I think it’s reasonable to assume that it may take at least a couple of weeks or if not a month," Jotaro Tamura told FT, before U.S. President Donald Trump announced a deal to end the war in Iran.
