Japan Trade Chief Says Hormuz Is Off-Limits as Hostilities Reignite

Commercial shipping through the Strait of Hormuz is once again off-limits in the near term as the renewed hostilities and threats to vessels led to another spike in risks of transiting the key tanker and container shipping lane, according to Masahiro Okafuji, chair of the Japan Foreign Trade Council. “No one would go there, because it’s dangerous,” Okafuji told a media conference on Wednesday, as carried by Bloomberg. Renewed re-routing of the shipping lanes around the Cape of Good Hope on Africa’s southern tip would hike…