Container ship attacks escalate in Strait of Hormuz

Iran’s Islamic Revolutionary Guard Corps said the vessel struck a naval mine on an “unauthorized” route and was carrying contraband. Singaporean authorities and maritime analysts disputed that account, with the MPA saying the ship was struck by projectiles; CNN reported that experts assessed a drone strike as the more likely cause.

A second Singapore-flagged container ship, the GFS Giselle, was also struck by projectiles and suffered hull damage, but reached safe anchorage under its own power; its 22 crew members were reported safe.

Two other feeder vessels were also hit, including the 2,500-TEU DP World Kaveri operated by a unit of Dubai’s DP World.

The downstream effect can resonate far beyond attacks in the region.

Other carriers may have bought feeder slots on the vessels, suggested analyst Lars Jensen. He noted Maersk (OTC: AMKBY), Ocean Network Express, PIL and OOCL showed active schedules for some of the ships.

Analysts point out that for shippers, war insurance can be cancelled on short notice if cargo moves on a vessel not owned by the carrier listed on the bill of lading.

British security monitor UKMTO data showed 12 vessels reported attacks between Oct. 5 and Oct. 11, the largest weekly total since the war began, following 10 attacks the prior week. Six vessels were struck on Sunday, including five tankers and one container ship.

The GFS Pride and the Antigua and Barbuda-flagged bulk carrier Cape Dao, which sank after being struck on Sept. 23, are the second and third vessels to sink since the conflict began, according to IMO casualty data.

Iran has linked the intensified campaign to the U.S. blockade of its ports and tougher sanctions, while U.S. Central Command said commercial traffic continues through the strait with coordinated protection from American forces and regional partners.

The violence is beginning to constrain traffic. Analyst Kpler counted 131 crossings through the strait in the week ended Oct. 14, down from 176 the previous week, though the firm cautioned that the decline was not solely attributable to the latest attacks.

Kpler estimated 12.6 million barrels of  crude oil per day moved through the strait on Oct. 13, below the roughly 15 million barrels per day reported at the end of September.

Read more articles by Stuart Chirls here.

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