World's largest tanker operator says Hormuz shipping recovery could take weeks

Jotaro Tamura, CEO of Mitsui OSK Lines, the largest tanker operator in the world, told the Financial Times in an interview published on Tuesday that it will take weeks for ship owners to restart transit through the Strait of Hormuz until they are certain that the US-Iran agreement is "material", AzerNEWS reports.

"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," Tamura told the outlet before US President Donald Trump announced a deal to end the war with Iran.

Tamura noted that there had been multiple false starts over the waterway's reopening since the Middle East conflict erupted in late February. The strait has been virtually closed since the beginning of the conflict, but Trump has maintained that there is a "safe, secure, and pristine" route through it.