Shipping giant says it will take weeks to resume Hormuz transit despite Iran deal

Shipowners will not resume transit through the Strait of Hormuz for weeks until they are confident the US-Iran deal is “material,” the chief executive of Japan’s Mitsui O.S.K. Lines told the Financial Times in an interview published on Tuesday.

The war that began on 28 February with US-Israeli strikes largely halted shipping through the strait, a transit route for around a fifth of the world’s oil and liquefied natural gas supply as well as products such as aluminium and urea. Mitsui O.S.K...