US-Iran deal must be 'material' for Strait of Hormuz to reopen, tanker giant warns

Shipping through the Strait of Hormuz is not likely to return to normal just because Washington and Tehran say they have reached a deal, the head of a major tanker operator has warned.

Mitsui OSK Lines chief executive Jotaro Tamura said the agreement has to be “material” before shipowners will treat the route as safe enough for regular transits. His warning underscores a gap between the political announcement and the practical conditions needed for vessels, insurers and crews to resume routine passage through one of the world’s most important oil chokepoints.

President Donald Trump said on June 15 that a US-Iran deal had been signed and that the Strait of Hormuz would reopen. But shipping executives and maritime officials are still trying to determine whether the deal changes security conditions in a tangible way, rather than simply changing the diplomatic language around the crisis.

Why shipowners are still waiting

The Strait of Hormuz has been disrupted since the Middle East conflict escalated in February, forcing carriers to rethink routes, timing and risk exposure. The latest reporting says that hundreds of vessels are still affected and that full normalization may take weeks or even months.

AP reported on June 16 that even with a deal in place, oil flows are not expected to return to normal quickly because trapped vessels, mine clearance and safety checks are slowing the restart. Around 500 commercial ships remain affected, according to the report.

That means the key question for operators is not whether a deal exists, but whether it produces a real drop in the risk of attack, interception or sudden policy change. Until that becomes clear, shipowners are likely to keep a cautious stance.

Tamura’s warning

Tamura’s comments reflect that caution. The FT reported that some operators have continued limited sailings, but others remain unwilling to restore normal passage until the security picture improves in a way that can be verified on the water.

For a shipping company, a political announcement is only the starting point. A durable reopening would need visible evidence that the route is safer, along with confidence that the agreement will be implemented consistently.

The Financial Times also reported that MOL moved four vessels out of the area with diplomatic help and still had seven ships waiting. That detail illustrates how the disruption is still affecting operations even after the diplomatic breakthrough.

Iran, fees and legal concerns

The FT said Tamura also criticized Iran’s reported attempt to charge transit fees, arguing that such a demand would run against international norms. That adds a legal and commercial complication to a route already weighed down by security fears.

If transit conditions are tied to fees or other ad hoc requirements, operators may view the reopening as incomplete even if political leaders describe it as resolved. For shipowners and insurers, predictability matters as much as diplomacy.

The International Maritime Organization is also assessing the situation, according to the FT, but there is still no formal point at which the market can say the strait has fully returned to normal operations.

What happens next

The next stage depends on implementation. Shipping firms are watching for concrete security guarantees, formal guidance from maritime authorities and signs that insurers are willing to restore standard coverage terms.

The broader market effect is significant. The Strait of Hormuz is a critical route for global oil and cargo shipments, so any delay in reopening keeps energy markets and freight rates vulnerable to further volatility.

For now, the political deal and the operational reality are not aligned. Trump has portrayed the route as open again, but tanker operators say regular traffic will only resume when the agreement is reflected in measurable improvements in security.