Largest tanker operator cautious over US-Iran deal: Strait of Hormuz flow may take ‘weeks’ or ‘a month’ to resume

The head of the world’s biggest tanker operator warned that shipowners will not resume transit through the Strait of Hormuz for “weeks” until they are confident that the US-Iran deal is “material”.

Jotaro Tamura, chief executive of Japan's Mitsui OSK Lines, told the Financial Times that many operators would wait before restarting crossings despite the US-Iran deal to reopen the strait.

“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 in the interview published on Tuesday.

Tamura noted that there had been multiple false starts over the waterway’s reopening since the Middle East conflict erupted in late February.

“Given the experiences in the last couple of months, I think it’s reasonable to assume that it may take at least a couple of weeks or if not a month,” he was quoted as saying.

What has Trump said on the opening of the Strait of Hormuz

Tamura made the remarks despite US President Donald Trump saying that there is a “safe, secure and pristine” route through the strait.

“Ships are starting to move, many loaded up with Oil, out of the Strait of Hormuz. They are going along the Southern “Highway,” which is totally safe, secure, and pristine. There are other areas of travel, also!!!,” Trump posted on TRUTH Social on Monday.

In a series of posts, Trump claimed that the deal with the Islamic Republic of Iran is “now complete”.

He also "fully authorised the toll-free opening of the Strait of Hormuz, and, simultaneously herewith, authorised the immediate removal of the United States Naval blockade."

He said, “Ships of the World, start your engines. Let the oil flow!”

Trump said the deal will be signed on Friday. "With the opening of the Strait upon the signing of the Deal on Friday, for purposes of mine removal, oil will flow on both ends again for the Region, and the World," the President added.

He also claimed that Iran has agreed never to have a nuclear weapon. "Also, the story that the U.S. is paying Iran 300 million Dollars is Fake News, put out by the Democrats!!!m" he said.

The interim deal between the US and Iran is likely to extend a tenuous ceasefire announced in April by another 60 days and reopen the Strait of Hormuz, which Iran has effectively blocked since the US and Israel attacked Iran in February, Reuters reported.

Negotiators would address difficult issues, such as the future of Iran's nuclear programme, during the next phase of talks, which Iranian Foreign Minister Abbas Araqchi said would start in Switzerland on Friday after the formal signing of the framework deal, as per the report.

US President Donald Trump said on Tuesday that the Iran deal was done and would move to a second stage, which he said would be “easier,” while speaking to reporters during a meeting with the Emir of Qatar in Evian-les-Bains, France.