Mitsui OSK Lines chief executive Jotaro Tamura warned that oil tanker traffic through the Strait of Hormuz will not resume for weeks despite the US-Iran agreement to reopen the waterway. The world's largest tanker operator said shipping companies need concrete proof the deal translates to real safety before restarting crossings.

The strait has been largely shut since late February, with daily ship traffic dropping from 135 vessels to a trickle. Some operators have attempted covert exits with GPS disabled, while companies like Dynacom continued trading throughout the standoff. The International Maritime Organization is assessing safe transit for roughly 500 ships still trapped in the Gulf.

MOL operates over 900 vessels, including 200 crude oil carriers, making it the sector leader. The company's shares have climbed 20% in Tokyo this year, valuing it at ¥2.1tn ($13 billion), amid activist investor Elliott Management pushing for operational changes.

Tamura noted that four MOL ships exited the Gulf before the deal without paying Iranian fees, suggesting diplomatic coordination involving Oman and India facilitated these passages. His stance reflects broader industry caution even after ceasefire extensions.

Shipping recovery faces significant hurdles beyond political agreements, requiring on-the-ground security verification before normal operations resume.