Japan’s Mitsui O.S.K. Lines (MOL) announced that three of its vessels, which transited the Strait of Hormuz in April, did not pay proposed transit fees, adhering to international navigation laws. Tehran has suggested tolls on vessels as part of its proposals to resolve the conflict with Israel and the U.S. The Strait is crucial for global maritime trade, handling about 20% of seaborne crude oil and LNG.
MOL’s spokesperson emphasized that the company will not pay such fees in the future, reinforcing their commitment to international navigation principles. MOL President Jotaro Tamura stated in April that the company would not comply with these fees, highlighting their dedication to legal navigation practices.
Despite the ongoing tensions, MOL has successfully navigated the Strait, crediting the cooperation of relevant countries. The company prioritizes the safety of its crew, vessels, and cargo. Recently, a Panama-flagged LNG carrier, co-owned with an Omani firm, made its first passage since the escalation of the Iran crisis, alongside two Indian-flagged LPG carriers from an affiliated company.
The U.S. Treasury has warned that shippers paying tolls to Iran risk facing punitive sanctions.
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