Japan Companies Stop Shipments thru Strait of Hormuz

Tokyo, March 1 (Jiji Press)--Three major Japanese shipping companies stopped oil and other shipments through the Strait of Hormuz after the U.S. and Israeli forces began strikes against Iran on Saturday, officials said Sunday.

Nippon Yusen K.K., Mitsui O.S.K. Lines Ltd. and Kawasaki Kisen Kaisha Ltd. halted operations in the strategic waterway and took such measures as keeping ships on standby in safe waters.

Japan relies on the Middle East, including Saudi Arabia and the United Arab Emirates, for more than 90 pct of its crude oil imports. Most of them are transported through the Strait of Hormuz.

Concerns are growing about the expected impact on the Japanese economy if the shipment halt is protracted.

According to the online version of The New York Times, the strait logged a 70 pct drop in vessel traffic as of Saturday night local time.

[Copyright The Jiji Press, Ltd.]