Jotaro Tamura, President and CEO of Mitsui O.S.K. Lines Ltd., a major Japanese shipping and logistics company, has indicated that the repercussions of the Middle East conflict on the shipping industry and global supply chains will endure even after the hostilities cease. In an interview in Singapore, Tamura stated that it would be "a bit naive" to expect conditions to revert to pre-war situations, suggesting a permanent shift in the global shipping landscape.
Separately, in April 2026, Tamura expressed hope for vessels to resume operations following a reported US-Iran ceasefire. However, he stressed the necessity of scrutinizing the details and implementation of any ceasefire agreement before allowing Mitsui OSK ships to navigate the Strait of Hormuz. At that time, it was noted that half of the stoppages in Hormuz had been restored, and the US and Iran were nearing a peace deal around the G7 meeting.
By June 2026, following a US-Iran memorandum of understanding to end the war, Tamura anticipated that normalization of navigation through the Strait of Hormuz would take several weeks, potentially up to a month. He confirmed this view reflected a general trend, not just for MOL's vessels, and emphasized the company's priority to move its ships out of the Persian Gulf. Tamura also highlighted the need for the industry to diversify procurement sources and prepare for increased oil tanker demand due to geopolitical risks, citing the Russia-Ukraine conflict and Red Sea transit issues as examples of persistent geopolitical shifts.
MOL, the world's largest LNG carrier operator, plans to expand its LNG operations to stabilize income in the volatile shipping sector. The company's fleet of LNG carriers, currently just over 100, is projected to reach 130 to 140 by 2030 after retirements. MOL recently made a final investment decision to participate in the Delfin FLNG 1 offshore project, slated for production in 2030, as part of its upstream expansion. Tamura noted the Indian Ocean Arc, particularly India, as a key region for LNG demand growth and future contracts.
