In 2026, shipowners ordered over 217 Very Large Crude Carriers (VLCCs), a significant increase from 93 the previous year, fueled by a $20 billion surge. This demand stems from the US-Iran conflict, reshaping trade routes and prompting refiners to seek alternative oil supplies amid safety concerns in critical transit areas.
On Wednesday, only three commodity vessels transited the Strait of Hormuz, a sharp decline from 12 the previous day and well below the 10-day average of 17. This may not reflect actual traffic levels, as vessels with disabled tracking systems could be unaccounted for, suggesting significant changes in shipping patterns.
Global LNG prices are set to rise this winter as Europe grapples with its lowest natural gas storage levels in years, currently at 67% capacity. Compounding this issue, North Asian buyers face increased competition amid the closure of the Strait of Hormuz, impacting supply from Qatar and the UAE.
A U.S.-contracted ship carrying American personnel was attacked by Iranian drones and missiles near the Strait of Hormuz, causing minor injuries. The injured were evacuated for medical treatment. Details about the ship’s identity and activities remain undisclosed, raising concerns about shipping security in this strategically vital region.
Vessel traffic through the Strait of Hormuz has sharply declined, with only four transits recorded recently. This decrease is well below the 10-day average of 18 vessels, raising safety concerns amid escalating tensions from the Iran war, particularly as notable large carriers remained absent from the traffic.
Saudi Arabia is ramping up crude oil sales from alternative locations due to the East-West pipeline’s shutdown. This week, Saudi Aramco reportedly sold approximately 20 million barrels to Asian refiners. The pipeline closure highlights vulnerabilities in the global oil market, pushing the kingdom to revert to traditional, riskier shipping routes.
A British maritime agency reported that a vessel was hit by an unidentified projectile in the Strait of Hormuz, a crucial shipping lane for oil and gas. This incident follows heightened tensions after US-Israeli attacks on Iran, prompting concerns about regional stability and maritime safety as investigations proceed.
On September 13, escalating tensions in the Middle East came as new strikes targeted Saudi Arabia and vessels in the Gulf. Following a recent pipeline attack, oil traders braced for soaring prices. Damage from Houthi strikes raised alarms, while record-high diesel prices highlighted the risk to global energy supplies.
During the 18th BRICS Summit, Prime Minister Narendra Modi proposed Seafarers’ Emergency Support Network to protect crew members amid escalating maritime conflicts. This initiative aims to connect maritime authorities and diplomatic missions for distress alerts and medical assistance, addressing the urgent safety needs of seafarers in volatile shipping routes.
At least 173 Indian seafarers are stranded in the Persian Gulf amid escalating attacks on commercial shipping. Recent incidents involving three vessels have raised safety concerns for Indian crews. India is actively monitoring the situation and advocating for seafarer safety while emphasizing the need to keep maritime routes open for global trade.
Amid a surge in attacks on ships in the Strait of Hormuz and the Black Sea, the Philippine government is ramping up efforts to protect its seafarers. The DMW is enforcing stricter deployment restrictions and investigating agency compliance, following fatal incidents and renewed threats to Filipino crews in high-risk maritime zones.
Iraq is seeking to hire two oil supertankers through the Strait of Hormuz, reflecting a regional drive among oil producers to gain control over exports. The Iraqi Oil Tankers Co. has issued a tender for very large crude carriers, emphasizing the strategic importance of tanker ownership amid geopolitical tensions and rising demand.
On September 10, vessel transits through the Strait of Hormuz fell to seven, down from twelve the day prior and below the ten-day average of fourteen. Among the outbound vessels was the Finland Prosperity carrying nearly 2 million barrels of crude oil, while no liquefied natural gas tankers departed.
A coalition of representatives from 18 key shipping nations has expressed concerns over the threats to maritime trade posed by escalating geopolitical tensions and the rise of a “shadow fleet.” The Consultative Shipping Group calls for enhanced international cooperation to protect navigation freedoms and ensure fair competition in the industry.
Iran announced on Wednesday that it had attacked 10 ships near the Strait of Hormuz in retaliation for the U.S. sinking five Iranian oil tankers. This escalation has pushed Brent crude prices above $100 a barrel, with casualties reported among seafarers. The U.S. military responded by targeting Iranian vessels.
