Iran struck 24 ships in and around the Strait of Hormuz in the two weeks to October 11, the most intense period of attacks since the conflict began. Oil exports through the waterway have fallen sharply, and shipowners are starting to avoid the area.
Six vessels were attacked near the Strait of Hormuz on Sunday alone, according to UK Maritime Trade Operations. That makes it the deadliest day of attacks on shipping near the strait since the start of the conflict, according to Financial Times calculations.
Two weeks of strikes on tankers and container ships
Data compiled by the FT from UKMTO reports and European security sources shows 24 ships were hit in the two weeks to October 11. The next most intense period came in the first two weeks of March, when 13 ships were hit.
Of Sunday's targets, three were refined product tankers and two were crude oil tankers, according to maritime security company Vanguard. An Indian container ship was also hit, and two Indian seafarers from one of the product tankers were reported missing.
India's foreign ministry called the attacks deeply concerning and urged an immediate resolution to the conflict. Separately, the Institute for the Study of War said: "Iran may be developing its anti-ship missile capabilities to improve its ability to target vessels."
Oil flows drop as shipowners turn away
Oil flows out of the Gulf averaged 15.5mn barrels per day in September, their highest level since the war began, according to Kpler. Since then, new Iranian strikes have sharply reduced the number of ships transiting the strait.
Only 2.9mn barrels of oil were carried through the waterway on October 11, the lowest level this month. Kpler said the figure could be revised upward once more vessels are tracked on satellite imagery, but the seven-day average was about 43% below pre-conflict levels.
Shipowners that had accepted risk because of high freight rates have started to avoid the area. Several vessels appear to have turned away from Fujairah, the United Arab Emirates anchorage on the Gulf of Oman, according to ship-tracking data, and some have headed to US ports in the Gulf of Mexico, where freight rates are still high.
Average global supertanker earnings hit a fresh record on October 9 of $805,000 per day, according to shipbroker Clarksons. It estimated that longer routes and ship-to-ship transfers are increasing tanker demand by about 13%.
Source: Financial Times
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