Two of Japan’s largest shipping companies, NYK Line and Mitsui O.S.K. Lines, are taking steps to minimize their exposure to the volatile situation in the Middle East. They’ve ordered their ships to pass through the strategic Strait of Hormuz as quickly as possible. This vital waterway is a key transportation route for oil, with over 20% of the world’s seaborne oil trade passing through it.
Normally, tankers and liquefied natural gas carriers must wait outside the Persian Gulf for several days to load or unload cargo. But with tensions running high, these ships are now being told to speed up their operations and leave the area as soon as possible. NYK Line has around 20 ships in the region, while Mitsui O.S.K. Lines has about 15. Both companies have set up special safety support centers in Tokyo to monitor the situation and adjust their routes if necessary.
The Strait of Hormuz is a narrow Waterway, just 50 kilometers wide, and is situated near Iran. The recent military action by the US against Iranian nuclear targets has increased tensions in the region. Experts say the moves by the Japanese shipping companies reflect the growing uncertainty and risk in the area. They’re taking a cautious approach, knowing that the situation could escalate at any moment.
The Strait of Hormuz is a critical chokepoint for global oil trade, and any disruption to shipping in the region could have significant economic implications. The Japanese companies’ decision to minimize their exposure to the area highlights the fragility of global energy supply chains and the potential risks to international trade.
Source: NHK