Japanese Shipping Companies Hold Back Despite Hormuz Deal

Japanese shipping companies that own vessels stuck near the Strait of Hormuz are in no rush to test the veracity of news that the U.S. and Iran had agreed to end their hostilities, with Iran reopening the strait. They will wait until the formalization of the agreement, set to be signed on Friday, Reuters reported. Several hundred tankers, LNG carriers, and cargo ships have been stuck around the chokepoint since the start of March, when Iran shut down the Strait of Hormuz in response to the missile strikes launched by the United States and Israel…