Two of the world’s largest shipping operators, Japan’s NYK Line and Mitsui O.S.K. Lines, have suspended all vessel transits through the Strait of Hormuz. This information was reported by Platts.

Read also: Ocean Carriers Halt Strait of Hormuz Transits Amid Regional Tensions

The companies cited heightened safety concerns following missile attacks as the reason for the halt. NYK has instructed its ships to avoid entering the strait and has ordered vessels already in the area to anchor in safe locations. A company representative stated it is unclear when these safety measures will be lifted.

MOL, described as the world’s largest operator of LNG carriers, confirmed its affiliated vessels are now waiting in safe waters. The company linked this decision to Iran’s move to close the Strait of Hormuz. MOL noted it is strengthening round-the-clock monitoring at its Safe Navigation Support Center to observe the situation, emphasizing that safety is its top priority.

Oil shipping traffic through the waterway decreased after Iran claimed to have shut it. Iranian state media reported the closure followed a day of missile strikes in the Gulf region. The Strait of Hormuz is a critical maritime chokepoint for global oil and liquefied natural gas supplies.

For Japan, Middle Eastern oil constituted the overwhelming majority of its crude imports in the most recent January data from the Ministry of Economy, Trade and Industry.

Source: IndexBox Market Intelligence Platform