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Shipping traffic through Strait of Hormuz may take weeks to normalize despite US-Iran deal

Market News
16 Jun 2026
Badar Shaikh
View Source
Neutral
pluang ai news

After the US and Iran reached a deal expected to reopen the Strait of Hormuz, the world's largest tanker owner, Mitsui OSK Lines, cautions that shipping companies will wait for proof the agreement works before resuming normal traffic. The strait is crucial as it handles over 20% of global crude oil supply. Mitsui OSK Lines' head, Jotaro Tamura, said it could take weeks for traffic to return to normal, and the company opposes Iran's proposed transit fees. Meanwhile, some vessels are cautiously attempting passage, but full confidence remains low until stability is confirmed.

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