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Market Chatter: Mitsui O.S.K. Lines Expects Hormuz Shipping Risks to Persist Through Year-End

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Mitsui O.S.K. Lines (TYO:9104) Chief Executive Officer Jotaro Tamura said that the supply disruption through the Strait of Hormuz is expected to stretch beyond the end of the year, Bloomberg News reported Thursday, citing a Mitsui CEO interview.

The Japan-based shipping and transport company executive noted that the recent US-Iran conflict escalation in the Middle East has elevated risks for oil tankers carrying Gulf oil to the global markets and that the Japanese shipowners have avoided the route.

The crude supply disruption via Hormuz impacted 90% of Japan's supplies, which are now sourced from different routes, including the US.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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