MOL Chairman Warns Yen Volatility Could Disrupt Global Markets, Pessimistic on Hormuz Shipping Recovery
The chairman of Mitsui O. S. K. Lines (MOL), one of the world's largest tanker owners, warned that sharp yen fluctuations could cause global financial market turmoil. He also expressed pessimism about the recovery of shipping through the Strait of Hormuz, where daily transits have fallen to their lowest since May, averaging 10 vessels over the past 10 days.
Mitsui O. S. K. Lines (MOL), the world's largest oil tanker owner and operator and one of the biggest shipping companies, derives most of its revenue in U. dollars.
The yen experienced significant volatility during 2026, at one point falling to a multi-decade low. Following multiple interventions by Tokyo authorities and one coordinated intervention with Washington, the yen strengthened for a period. Recently, the yen has been trading around 153 per U. dollar.
Data from analytics firm Kpler show that an average of 10 commercial vessels per day have passed through the Strait of Hormuz over the past 10 days, the lowest level since May.