US-Iran memorandum reaches 60-day negotiation deadline on 17 August in Japan　米イラン覚書、日本時間17日に60日交渉期限

Prospects for “normalisation of the Strait of Hormuz” remain distant as Japan’s shipping industry weighs the impact

遠い「ホルムズ海峡の正常化」、日本海運への影響を読む

　The 60-day negotiation period under a memorandum between the US and Iran, which provides for a cessation of hostilities and other measures, is due to expire on 17 August in Japan. However, significant differences remain between the two sides over the normalisation of the Strait of Hormuz, with no clear path towards an early agreement.

　If the effective closure of the Strait of Hormuz is prolonged further, it could tighten vessel supply and demand in sectors including tankers, LPG carriers and container shipping, while placing additional pressure on car carriers through higher fuel costs and creating greater challenges for safe operations.

■The full article covers the following points (approximately 2,000 Japanese characters)

→ US-Iran memorandum reaches 60-day negotiation deadline on 17 August, with normalisation of the Strait of Hormuz still out of sight

→ Japan’s three major shipping companies push back their assumption for normalisation from “July” at the start of the financial year to “October”

→ Prolonged disruption could increase tonne-miles for tankers and LPG carriers, potentially supporting the vessel supply-demand balance

→ Higher bunker costs and rerouting add to operating costs and weigh on car carrier earnings

→ ONE faces both capacity absorption from Red Sea-Suez diversions and higher fuel costs, with implications for the earnings of Japan’s three major shipping companies

（Please continue reading the full paid version, available in English and Japanese. The Japanese article appears after the English version.）

米イラン覚書、日本時間17日に60日交渉期限

遠い「ホルムズ海峡の正常化」、日本海運への影響を読む

　米国とイランが戦闘停止などを定めた覚書の60日間の交渉期限が、日本時間17日に迫る。しかし、ホルムズ海峡の正常化を巡る双方の隔たりは大きく、早期合意への道筋は見えない。

ホルムズ海峡の事実上の封鎖状態がさらに長期化した場合、タンカーやLPG船、コンテナ船などでは船腹需給を引き締める一方、自動車船や燃料費、安全運航には一段の負担となる可能性がある。

■記事本文では以下の内容を読むことができます（記事全文約2,000文字）

→ 米イラン覚書、17日に60日交渉期限　ホルムズ海峡の正常化はなお見通せず

→ 海運大手3社、正常化前提を期初の「7月」から「10月」へそろって後ろ倒し

→ 長期化ならタンカー・LPG船などでトンマイル増、船腹需給を支える可能性

→ 自動車船ではバンカー高や迂回配船など運航コスト増が収益の重荷に

→ ONEは紅海・スエズ迂回による船腹吸収と燃料費増が併存、3社業績への影響を読む

（続きは英語と日本語で書かれた有料版の本文でお読みください。日本語の記事は英文記事に続いて掲載されています）