Mitsui O.S.K. Lines (MOL) expects disruptions to commercial shipping through the Strait of Hormuz to persist through the end of the year, with the company warning that conditions remain too risky for a full return to normal operations.
MOL President and CEO Jotaro Tamura said the security situation in the strategic waterway has not improved sufficiently for shipping companies to confidently resume regular voyages. The assessment represents a more cautious outlook as attacks and restrictions continue to affect vessel movements.
Traffic through Hormuz has fallen sharply amid the heightened security risks. Preliminary data showed only four commodity vessels transited the strait on September 1, compared with a 10-day average of about 13 vessels, highlighting the continuing disruption to maritime flows.
The impact is particularly significant for energy shipping. The Strait of Hormuz is a critical route for crude oil and LNG shipments, and prolonged restrictions are forcing energy companies and shipowners to consider alternative routes and supply sources. Japan and other Asian importers have already increased purchases from suppliers outside the Gulf to reduce their dependence on disrupted Middle Eastern flows.
For shipowners, the prolonged uncertainty is also increasing operational and insurance costs. Higher war-risk premiums, security requirements, longer voyages and potential rerouting are adding pressure to tanker and other vessel operators serving the region.
MOL has previously stressed that any return to normal Hormuz operations would require clear and tangible improvements in security. In June, Tamura said shipping companies would need confidence that any political agreement translated into safer conditions in the waterway before resuming regular transit.
With MOL now expecting disruption to continue through year-end, shipping and energy markets face the prospect of a prolonged period of elevated freight costs, tighter vessel availability and continued uncertainty across one of the world’s most important maritime chokepoints.