Japan Shipping Companies Suspend Operations in Persian Gulf

Article content(Bloomberg) — Japanese shipping companies have suspended operations in the Persian Gulf as the military conflict in Iran escalates.Sign In or Create an AccountEmail AddressContinueor View more offersArticle contentNippon Yusen KK temporarily halted its operated vessels from traveling through the Strait of Hormuz, said a spokesperson.

Kawasaki Kisen Kaisha Ltd. has instructed its boats in the Persian Gulf to remain on standby, while Mitsui OSK Line Ltd. ordered its vessels to wait in safe waters.Article contentWe apologize, but this video has failed to load.Try refreshing your browser, ortap here to see other videos from our team.Article contentOil shipping has largely paused in the Strait of Hormuz that links the oil-rich Persian Gulf to the open seas after the US and Israel bombed Iran, with Iranian media saying the waterway is “practically closed.” Earlier, the US warned ships to stay away from the Persian Gulf and Arabian Sea, specifically 30 nautical miles from American military assets.Article contentArticle contentThe Japanese Shipowners’ Association will facilitate information sharing and coordinate with relevant government ministries and agencies, the industry body said in a statement on Sunday.Article contentTop StoriesGet the latest headlines, breaking news and columns.There was an error, please provide a valid email address.Sign UpBy signing up you consent to receive the above newsletter from Postmedia Network Inc.Thanks for signing up!A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againInterested in more newsletters? Browse here.Article content“Given that our country depends on Middle Eastern nations for 94.6% of its crude oil imports, the recent attacks raise serious concerns that the safety of maritime navigation may be threatened and that the stable transportation of energy resources and other trade goods could be significantly disrupted,” Hitoshi Nagasawa, chairman of the association and Nippon Yusen, said in the statement.Article contentAn Idemitsu Kosan Co. spokesperson said that there had been no impact on supplies to Japan as of Saturday night.Article content“The situation is changing rapidly, and we are monitoring it closely,” the spokesperson said.Article contentA Cosmo Energy Holdings Co. representative said there had been no immediate problems with crude oil supply.Article contentJapan’s airlines have also been impacted by the conflict, with Japan Airlines Co. saying in a statement that it canceled six flights between the Haneda Airport and Doha through March 3. About 1,000 passengers are expected to be affected.Article content—With assistance from Natsuko Katsuki and Masaki Kondo.Article content(Adds comment from Japanese Shipowners’ Association from fourth paragraph.)Article contentTrending The (high) opportunity cost of paying off your mortgage early Mortgages Philip Cross: Weak business investment frustrates Carney's plan FP Comment Explosions in Dubai and Abu Dhabi jolt Mideast financial hubs PMN Business Posthaste: Canadians' new retirement savings goal of $1.7 million looks increasingly unattainable, BMO survey finds News Feds to invest millions in startup accelerator to boost Canadian defence and dual-use companies Innovation Share this article in your social networkCommentsYou must be logged in to join the discussion or read more comments.Create an AccountSign in Join the Conversation Postmedia is committed to maintaining a lively but civil forum for discussion. Please keep comments relevant and respectful. Comments may take up to an hour to appear on the site. You will receive an email if there is a reply to your comment, an update to a thread you follow or if a user you follow comments. Visit our Community Guidelines for more information. The (high) opportunity cost of paying off your mortgage early Mortgages Philip Cross: Weak business investment frustrates Carney's plan FP Comment Explosions in Dubai and Abu Dhabi jolt Mideast financial hubs PMN Business Posthaste: Canadians' new retirement savings goal of $1.7 million looks increasingly unattainable, BMO survey finds News Feds to invest millions in startup accelerator to boost Canadian defence and dual-use companies Innovation