Transit in Strait of Hormuz will take ‘weeks’ to resume, world's largest tanker operator says

Shipowners will not resume transit through the Strait of Hormuz for weeks until they are confident that the U.S.-Iran deal is "material", the chief executive of Japan's Mitsui OSK Lines 9104.T told the Financial Times in an interview published on Tuesday.

"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," Mitsui OSK's Jotaro Tamura said.

According to Marine Digital, Mitsui OSK, headquarterd in Tokyo, Japan, is the world's largest tanker operator with over 8,900 employees and assets worth over $19 billion.

-Paraluman News with reporting by Anusha Shah in Bengaluru; Editing by Sonia Cheema/Reuters