BlockBeats report, June 16: Although the United States and Iran have reached a preliminary agreement on reopening the Strait of Hormuz, MOL, the world’s largest oil tanker operator, stated that shipping companies will not quickly resume normal operations until the agreement is confirmed to translate into a "safe, reliable, and unobstructed" navigation environment.
Mitsui O.S.K. Lines CEO Joji Tamura said that expectations for the reopening of the Strait of Hormuz have been repeatedly disappointed over the past several months, so the industry remains cautious about the current agreement, with normal operations potentially still weeks or even a month away. To date, the company still has at least seven vessels waiting to pass through the strait.
Before the conflict, the Strait of Hormuz handled over 20% of global oil and liquefied natural gas transportation. The International Maritime Organization (IMO) is evaluating evacuation plans for approximately 500 stranded vessels and advocating for the establishment of evacuation routes for seafarers who have been stranded for over 100 days.
The German shipping company Hapag-Lloyd said the agreement is "encouraging" and expects the stranded vessels to leave the area by the end of the week. However, the International Tanker Owners Pollution Federation emphasized that resuming navigation still requires individual risk assessments for each vessel.
Data shows that before the conflict erupted, approximately 135 vessels passed through the Strait of Hormuz daily, and current traffic has significantly declined. Some shipowners continue operations, while others are waiting for further stabilization of the situation before resuming normal trade activities.