Shipping companies, including owners and operators of tankers and LNG carriers, are on high alert following escalated tensions in the Middle East, with risks of freight rates rising sharply, higher war insurance premiums and other risk mitigation efforts being implemented. Receive daily email alerts, subscriber notes & personalize your experience. Register Now Japan’s Mitsui O.S.K. Lines, one of the country’s largest shipowners, issued a new safety advisory for its vessels transiting the Strait of Hormuz, the key chokepoint for oil and gas ships traversing the Persian Gulf, amid a tense standoff between the US and Iran. Under the latest safety advisory, which was issued after a US strike on Thursday killed Iranian General Qassem Soleimani in Baghdad, MOL advised its ships to keep a distance from the Iranian coast and avoid Iranian waters when transiting the Strait of Hormuz, a company spokesman said Monday. NYK […]