MOL CEO says shipping disruption in the Strait of Hormuz could last until the end of the year

Jotaro Tamura, CEO of Japanese shipping company Mitsui O.S.K. Lines, stated that disruptions in shipping through the Strait of Hormuz may last longer than previously anticipated. Recent attacks on vessels have further increased the risks of transporting crude oil via this waterway. Given the current situation, it is hard to imagine shipping resuming in any form before the end of this year. The current circumstances remain far beyond the risk levels we can accept.