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Japanese company Mitsui O.S.K. Lines, one of the major shipping firms, does not expect the resumption of LNG shipments through the Strait of Hormuz in the near future. This could prolong shipping disruptions and lead to higher gas prices in Asia. The Chairman confirmed that the current situation makes it almost impossible for shipments to pass, and he noted the difficulty of reaching a peace agreement that would ease the crisis. The suspension of shipping through the Strait of Hormuz has pushed spot LNG prices in Asia to their highest levels since 2022, with expectations of continued increases as winter approaches and demand for heating rises, while the market faces a shortage of alternative supply sources.
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