Shipping Firms Hesitate to Transit Strait of Hormuz Despite US-Iran Peace Talks

Shipping companies remain reluctant to send vessels through the Strait of Hormuz despite news of a planned peace agreement between the United States and Iran in Switzerland on Friday (19/6/2026). They are waiting for the deal to be genuinely implemented, given that a previous agreement collapsed after being violated by one of the parties. Japan’s Mitsui O.S.K. Lines, for instance, will not resume transiting the waterway until the agreement is fully realised. “What needs to be achieved is not just a simple agreement between the countries concerned, but something tangible that translates into the actual situation in the Strait of Hormuz, so that shipping companies can feel comfortable passing through,” said Jotaro Tamura, Chief Executive of Mitsui O.S.K., as quoted by Reuters on Tuesday (16/6/2026). The Iran conflict, which began on 28 February with US-Israeli strikes, has largely halted shipments through the transit route for roughly one-fifth of the world’s oil and liquefied natural gas supplies, along with products such as aluminium and urea. Mitsui O.S.K., one of Japan’s three major shipping firms, operates a fleet of more than 900 vessels, including bulk carriers, tankers, and ferries. The company fears that if the agreement is again violated and fails, expedition owners will remain wary of using the Strait of Hormuz. Tamura also noted that even if the strait reopens, ships will not automatically pass through quickly, as many vessels are already waiting for the reopening. “Given the experience of the past few months, I think it is reasonable to assume that it might take at least several weeks or even a month to transit the Strait of Hormuz once it is opened,” Tamura added. The resolution of the deal between Washington and Tehran does not change Tamura’s view that oil and commodity carriers are already considered very safe to pass through the Strait of Hormuz. Previously, US President Donald Trump said in a post on his social media platform Truth Social that oil-laden ships were beginning to move out of the strait via a “Southern Highway” that is completely safe and secure.