Oil tankers face worst-case scenario in Hormuz as Iran steps up ship attacks, risk CEO says

• Daily ship transits through Hormuz fell to just 8 vessels on Thursday from over 100 daily before U.S.-Israel attacks on Iran in February, with crews now refusing passage due to safety fears regardless of financial incentives
• Iranian forces have used anti-ship missiles in attacks, while the traditional middle route remains too dangerous due to mine threats; one seafarer was killed and three injured on tanker Al Bahyah, with eleven more injured on Mombasa B
• The U.S. has reimposed a naval blockade and launched airstrikes against Iranian targets in retaliation, but the June 17 agreement between U.S. and Iran failed to define safe transit lanes, leaving the security situation unresolved

Summary: Iran Escalates Attacks on Oil Tankers in Strait of Hormuz

Key Developments:

The security situation in the Strait of Hormuz has deteriorated to a "worst-case scenario" as Iran has attacked at least nine ships since July 6, according to Dimitris Maniatis, CEO of maritime risk service Marisks. Iran is attempting to force vessels through its territorial waters rather than routes along Oman's coast protected by the U.S. military.

Casualty Figures:

Recent attacks have resulted in one seafarer killed and 14 injured. The crude oil tanker Al Bahyah and Mombasa B were struck off Oman's coast on Tuesday using anti-ship missiles. Iran's attacks have also involved mines, which pose extreme danger to vessels.

Traffic Impact:

Ship transits through Hormuz have plummeted to a three-week low of eight vessels on Thursday, down from 15 the previous day and over 100 daily before U.S.-Israel attacks on Iran on February 28. Many ships are now crossing with transponders turned off or avoiding the strait entirely.

Military Response:

The U.S. reimposed a naval blockade against Iran this week and disabled the unladen tanker M/T Belma on Wednesday. President Trump stated Hormuz remains "open to all ships except those of Iran." The U.S. has launched strikes against Iranian targets in retaliation for tanker attacks.

Market Implications:

Shipping companies face difficult decisions balancing risk tolerance with operational needs. Crew fear is now the primary factor in transit decisions, surpassing financial considerations. The situation threatens global oil supply chains, with Iran and Houthi allies also threatening the Red Sea, a vital alternative route for Saudi oil exports.