On Wednesday, the GFS Pride, a container ship registered in Singapore, sank after being struck by an unidentified projectile, amid rising hostilities from Iran towards commercial vessels in the Strait of Hormuz. The Maritime and Port Authority of Singapore reported that all 21 crew members were safely evacuated without injuries.
Iran's Revolutionary Guard attributed the incident to a naval mine, but this claim lacks independent verification, leading maritime security firm Marisks to suggest it may be part of a broader psychological campaign to instill fear and disrupt shipping in the area.
This incident is part of a worrying trend, with over 20 vessels, primarily oil tankers, reportedly attacked in Hormuz and surrounding waters this month, resulting in two missing sailors and 12 injuries.
Following a rebound in crude oil exports through Hormuz to prewar levels in September, recent attacks have caused a significant decline in shipments, with crude exports averaging 8.5 million barrels per day, nearly 40% below normal levels.
The volatility in daily flows, ranging from 3 million to 6 million barrels, underscores the uncertainty in the region, which could have far-reaching implications for global oil markets and shipping logistics