World News
Hormuz Disruption an 'Urgent Issue' for Operations, Says MOL CEO
Japanese shipping firm Mitsui O.S.K. Lines (MOL) has described the impact of the Iran war on Strait of Hormuz transit as an “urgent issue” for its operations.
The consequences of the disruption have become an urgent operational priority, Jotaro Tamura, CEO and President of MOL, said during MOL Foundation Day on Wednesday.
“The Strait of Hormuz has effectively remained closed for approximately one month, and addressing the resulting impact has become an urgent issue, he said.
“Our highest priority is to ensure the safety of the crews aboard our vessels.
"In close coordination with the Japanese government, we are making every effort to resolve the situation as swiftly as possible.”
Shipping activity in the Strait of Hormuz has been disrupted for over a month, with ongoing instability in the region continuing to weigh on vessel movements and operations.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 867.50 | 10.00 | 1869.50 | 48.00 |
| Rotterdam | 749.00 | 11.00 | 1366.50 | 22.00 |
| Houston | 895.00 | 12.50 | 1267.00 | 75.50 |
| Fujairah | 869.00 | 21.50 | 1730.00 | 27.00 |
| Global 20 Ports Average | 965.00 | 6.50 | 1694.00 | 3.00 |
| Global 4 Ports Average | 845.00 | 7.50 | 1558.50 | 19.00 |
| Global Average Bunker Price | 1007.50 | 0.50 | 1649.00 | 50.00 |
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