Japanese container ship damaged in Persian Gulf, Japan to release oil reserve
A container ship owned by Japan’s Mitsui OSK Lines was damaged in the Persian Gulf on March 11, but no injuries were reported.
The incident comes amid a de facto blockade of the Strait of Hormuz, a key route for global energy shipments, as attacks on vessels continue to occur in the area.
The Financial Times reported that the container ship was attacked and sustained damage to part of its hull.
According to Mitsui OSK Lines, the damage occurred while the vessel was anchored 100 kilometers from the Strait of Hormuz. However, the company said the damage was not caused by an attack and was investigating the cause.
It also confirmed that the crew, including Japanese nationals, were not injured and that operations were unaffected.
The Financial Times reported that three vessels, including the Japanese container ship, were affected by attacks within just five hours.
Separately, following the incident, Prime Minister Takaichi Sanae announced that Japan will release oil reserves.
Japanese Prime Minister Takaichi Sanae / We plan to utilize Japan's oil reserves while coordinating with G7 nations and the International Energy Agency.
Takaichi explained that tankers were effectively unable to pass through the Strait of Hormuz, and that crude oil imports were expected to decrease significantly from late March.
To prevent disruptions in the supply of gasoline and other products, the government will release oil reserves as early as March 16.
First, the government will release 15 days' worth of private-sector reserves, followed by about one month of national reserves.
The release will be the largest scale since Russia's invasion of Ukraine in 2022.
The Ministry of Economy, Trade and Industry will also begin providing subsidies to gasoline wholesalers on March 19 to keep the national average price of regular gasoline around 170 yen per liter.

