Japanese firm predicts ongoing LPG Strait Disruptions

Mitsui OSK Lines, one of Japan's largest shipping companies, expects the disruption in LNG shipments through the Strait of Hormuz to continue, which could keep prices high and limit demand in Asia. The company's Chairman, Takeshi Hashimoto, explained that the current situation makes it almost impossible to transport shipments through the strait, amid difficulties in reaching a peace agreement among the involved parties. This halt has driven spot LNG prices in Asia to their highest levels since 2022, as concerns grow over rising prices ahead of the winter season, with limited alternative supplies estimated by sources that will not fully meet demand.

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