Hundreds of ships remained at a standstill in the Strait of Hormuz on Monday, as the United States and Iran reached an initial agreement that would extend their shaky ceasefire and lead to the reopening of the strait.

TOKYO, June 15 : Japanese shippers welcomed on Monday the U.S.-Iran peace agreement which will reopen the Strait of Hormuz but are awaiting more details of the deal and clearance…

Shipowners and traders are cautiously awaiting details on a potential reopening of the Strait of Hormuz, a vital oil and gas route disrupted by conflict. While a US-Iran deal is…