October Marks Deadliest Month for Shipping in Strait of Hormuz
October has emerged as the most perilous month for commercial shipping in the Strait of Hormuz and adjacent waterways, with a record number of attacks reported. A Washington-based think tank has documented 28 confirmed incidents this month alone, contributing to a total of 113 attacks since the onset of the US-Israeli conflict with Iran on February 28. The majority of these incidents were concentrated in the Strait of Hormuz, highlighting a troubling trend in maritime security.
The International Maritime Organization (IMO) corroborates these findings, noting a total of 120 incidents in the region since the conflict began, including over 30 supertankers damaged, with 11 occurring in October. These Very Large Crude Carriers (VLCCs), capable of transporting around 2 million barrels of crude oil, represent about 3.5% of the global VLCC fleet, which numbers over 900. Increased attacks have coincided with shipowners taking greater risks to load cargoes in the Gulf, drawn by lucrative freight rates and discounts from regional producers.
The escalation in attacks is viewed as a strategy by Iran to disrupt shipments and exert pressure on global energy markets, particularly ahead of the upcoming US midterm elections. Reports indicate that the UK Maritime Trade Operations (UKMTO) has recorded a significant rise in ship damage this month, although the full extent of the situation may not be fully captured due to inadequate reporting from shippers.
