Mitsui O.S.K. Lines (MOL) said LNG shipments via the Strait of Hormuz are
unlikely to resume soon, warning a prolonged disruption could keep prices
elevated and curb Asian demand. Chairman Takeshi Hashimoto said, as long as the
situation continues, shipping LNG through the Strait is almost impossible and
the company is very pessimistic on the near-term outlook. MOL has stopped
routing LNG tankers through the Strait, which before the conflict carried about
20% of global supply. The disruption has pushed Asian spot LNG prices to their
highest since 2022; with winter heating demand approaching, prices could rise
further and many Asian buyers have already cut purchases.
