Hormuz traffic is up. So are the attacks
USO•October saw 31 LNG tankers carry cargo through the Strait of Hormuz, up from 23 in September, while a think tank counted 37 vessels hit—the worst month for ship attacks since the Iran war began. The International Maritime Organization has confirmed 130 incidents and at least 25 seafarer deaths.
1. Traffic and attacks rise
LNG exports from the Gulf reached their busiest month since the war began in October. LNG traffic from the UAE has returned to prewar levels, while Qatar’s is just over 30% of its prewar level. Shipowners have become more willing to load cargoes inside the Gulf, with charter rates above $1 million a day, but the greater number of vessels also means more potential targets.
2. Crews face rising danger
The International Maritime Organization has confirmed 130 incidents, mostly attacks, since the conflict began, with at least 25 seafarers killed. Hiring costs have tripled, and captains can earn three times their prewar pay, but many sailors quit after one trip. Indian sailor Naveen Kumar remains missing after tracking signals from two Iran-linked cargo ships stopped near Iran’s Kish Island in May.
3. Oil slick threatens coast
Oil leaking from the damaged tanker Gem No.2 has closed beaches across the northern emirates. The slick was seen about 2 km from the Naqa'a desalination plant, whose seawater intake was threatened; no shutdowns have been announced. Iranian state media said three tankers were hit on Sunday for using “unauthorised routes,” even as crude prices reached two-month lows.
