Japan's NYK, MOL suspend Strait of Hormuz transit

Japan's NYK Line and Mitsui O.S.K. Lines, among the world's largest ship operators, have halted all of its ships from transiting the Strait of Hormuz amid heightened safety concerns following missile attacks, NYK and MOL spokespeople told Platts, part of S&P Global Energy, on March 1.

NYK has directed its ships to stop entering the Strait of Hormuz, the gateway to the Persian Gulf, and has also ordered those already there to anchor in safe locations, a NYK spokesperson said.

It was not immediately clear when NYK will be able to lift its safety measures for Strait of Hormuz transit, the spokesperson said.

"Our affiliated vessels are now standing by in safe waters," a spokesperson for MOL, the world's largest operator of LNG carriers, said, pointing to Iran's move to close the Strait of Hormuz.

"We continue to strengthen 24-hour monitoring at our Safe Navigation Support Center, closely observing the situation and gathering information as it develops, the spokesperson said." "The safety of our crew, cargo, and vessels remains our highest priority."

Oil shipping traffic through the strait declined on Feb. 28 after Iran claimed to have shut it in response to US and Israeli missile strikes against the Islamic Republic.

Iran's state media said Feb. 28 that the Islamic Republic has shut the critical Strait of Hormuz after a day of missile strikes rocked the oil-rich Gulf region.

The Strait of Hormuz is a vital chokepoint through which about 20% of the world's oil and LNG supply transits daily.

Middle East oil supply accounted for 95.1% of Japan's crude imports in January, according to the Ministry of Economy, Trade and Industry.