Shipping Activity in Strait of Hormuz Grinds to a Halt as Two More Tankers Attacked
The Strait of Hormuz, the world’s most vital energy transportation artery, is seeing shipping activity approach a complete standstill. As the conflict between the United States and Iran continues to escalate, commercial vessels are being attacked in succession. Even a major Greek shipowner, viewed by the industry as “the last of the brave,” has seen its operations compromised, with two of its tankers hit, further shattering market confidence.
Dynacom Tankers Hit, Shipping Companies Wary
Industry sources reported that a VLCC and a smaller fuel tanker managed by Dynacom Tankers, owned by Greek shipping magnate George Prokopiou, were attacked near the Strait of Hormuz on July 20. Dynacom was previously considered one of the few large shipowners still attempting to maintain operations on this route. Now that its vessels have become targets, other shipping companies will inevitably be even more reluctant to risk transiting these high-risk waters.
Shipping Traffic Plummets as Confidence Collapses
According to vessel tracking data, the number of large tanker transits through the Strait of Hormuz has plummeted from a daily average of about eight in early July to just roughly two per day. Market intelligence indicates that one of the vessels attacked was the VLCC named Acheloos. The other was the Malta-flagged Panamax tanker Kavomaleas, which was hit by two rounds of unidentified munitions, causing an engine room fire and forcing the crew to evacuate.
UKMTO Confirms Crew Rescue, Vessel Remains Adrift
The United Kingdom Maritime Trade Operations (UKMTO) confirmed that the crew was rescued by a nearby tugboat, but the vessel remains adrift and continues to burn. U.S. maritime authorities continue to issue high-risk warnings for commercial vessels navigating the Persian Gulf, the Strait of Hormuz, and the Gulf of Oman, stating that the threat from Iran is not limited to boarding and seizure but also includes attacks by missiles, armed drones, and unmanned surface vessels.
Transfer Route Slowdown Signals Worsening Problem
As risks on the main shipping lane soar, some energy traders had previously attempted to maintain exports through ship-to-ship transfers outside the Strait, avoiding sending large tankers directly into the most dangerous zones. However, this alternative path is now also showing a clear slowdown. Satellite imagery showed only one pair of tankers conducting a transfer operation in the Gulf of Oman on July 18, compared to three pairs a week earlier. Maritime sources revealed that only two to three transfer activities have been observed recently. This signals that the problem has worsened from “whether ships are willing to cross the Strait” to “whether energy exports can proceed smoothly even when bypassing the Strait.”
Original Article: Strait of Hormuz Shipping Nearly Halted as Two More Tankers Attacked; Brent Crude Surges Past $90 — BigGo Finance — Biggo