Major Japanese shipping companies have suspended navigation through the globally crucial Strait of Hormuz amid the heightened military conflict between Iran and the United States and Israel.
Mitsui O.S.K. Lines Ltd. said March 1 that its ships have been standing by in safe waters outside the strait since the night of Feb. 28. It said the Iranian navy announced it was prohibiting any vessel from passing through the Strait of Hormuz.
NYK Line, another Japanese shipping giant, also halted passage of its vessels through the strait and instructed them to wait in safe waters.
The Strait of Hormuz, located between Iran and the Arabian Peninsula, is a vital point for the world’s maritime energy transport.
More than 90 percent of the crude oil imported by Japan comes from the Middle East, and much of it passes through this area.
If a blockade of the strait becomes prolonged, crude oil prices could surge and impact the Japanese economy.
“The situation is tense, and we will continue to closely monitor developments,” said an official of JERA Co., a major thermal power producer jointly funded by Tokyo Electric Power Company Holdings Inc. and Chubu Electric Power Co.
JERA procures liquefied natural gas from the United Arab Emirates and Qatar in the Middle East, but the official said, “We have secured sufficient inventory for the time being, so there should be no problem.”
Japan Airlines Co. has decided to cancel flights between Tokyo’s Haneda Airport and Doha, the capital of Qatar, through March 3.
The company said it would determine its future flight schedules based on the latest information.
The U.S. and Israeli militaries launched strikes against Iran on Feb. 28. Iran has retaliated by firing missiles against Israel and U.S. bases in a number of Middle East countries.
(This article was written by Takeshi Owada and Tomoki Morishita.)
