RIYADH: TheStrait of Hormuz Crisis Impacts 2,000 Vessels and around 20,000 seafarers, highlighting the growing risks facing global maritime trade as tensions intensify across key shipping routes, according to the International Maritime Organization (IMO).
The United Nations specialised maritime agency has warned of mounting repercussions for international shipping amid increasing threats to navigation in the Strait of Hormuz, the Red Sea, the Black Sea and waters off the coast of Somalia.
The IMO said the initial impact of the crisis in the Strait of Hormuz had extended to approximately 2,000 vessels and 20,000 seafarers. The figures underline the strategic importance of the waterway, through which around 20% of global oil shipments pass.
Any prolonged disruption in the Strait of Hormuz could have serious consequences for energy supplies, shipping costs and global supply chains, particularly for countries heavily dependent on imported oil and gas.
Strait of Hormuz Crisis Impacts 2,000 Vessels as Maritime Risks Grow
The Strait of Hormuz Crisis Impacts 2,000 Vessels at a time when commercial shipping is already facing growing security challenges across several major maritime corridors.
The IMO has warned that disruptions to maritime navigation, rising freight and insurance costs and potential supply shortages could push commodity prices higher and place additional pressure on global food security.
The agency also cautioned that the economic effects of the current maritime crisis could continue into next year. Developing countries could face particularly severe consequences because of their greater vulnerability to higher energy, transportation and commodity prices.
The Strait of Hormuz is among the world’s most strategically important maritime passages. It connects the Persian Gulf with the Gulf of Oman and the Arabian Sea and serves as a major transit route for crude oil, petroleum products and liquefied natural gas.
A prolonged disruption could force shipping companies to reconsider routes, increase journey times and absorb higher operational and insurance expenses.
Black Sea Shipping Activity Also Falls Sharply
The IMO has also raised concerns about maritime activity in the Black Sea, where attacks targeting commercial vessels have caused a major decline in shipping traffic.
According to the agency, only one or two vessels a day are currently calling at Ukrainian grain ports, compared with around 20 to 30 vessels during normal conditions.
The reduction in shipping activity is particularly significant because Ukraine is a major exporter of grain and other agricultural commodities. Any prolonged disruption could therefore affect international food supplies and contribute to higher prices.
The UN maritime agency warned that continued disruption across major shipping routes could have consequences extending far beyond the shipping industry, affecting international trade, energy markets and food security.
Saudi Arabia, Oman Stress Freedom of Navigation
Saudi Arabia and Oman have emphasized the importance of maintaining maritime security and protecting the freedom of navigation amid growing regional tensions.
The issue was discussed during a telephone conversation between Saudi Foreign Minister Prince Faisal bin Farhan and Omani Foreign Minister Sayyid Badr bin Hamad Albusaidi.
According to a Saudi Foreign Ministry statement, the two officials stressed the importance of supporting diplomatic efforts aimed at de-escalating tensions and strengthening regional security and stability.
Their discussions came as concerns continued to grow over the potential impact of regional conflict on commercial shipping and energy supplies.
Oil Prices Surge Above $105 a Barrel
The deteriorating maritime security situation has also contributed to a sharp increase in global oil prices.
Brent crude futures rose by approximately 4%, gaining $4.05 to reach $105.26 a barrel by 1215 GMT. US West Texas Intermediate crude also climbed around 4.15%, rising $3.99 to $100.04 a barrel.
WTI briefly moved above the $100 mark for the first time since May, reflecting growing concerns about possible disruptions to global energy supplies.
Also Read: Iran-Oman Talks Near Breakthrough on Temporary Safe Passage Through Strait of Hormuz
Brent crude has gained more than 30% from lows recorded in early August as diplomatic efforts to secure a lasting ceasefire between the United States and Iran failed and fighting resumed.
The latest price increase followed reports of attacks on commercial vessels near the Strait of Hormuz, further increasing concerns about the security of one of the world’s most important energy corridors.
Commercial Vessels Reportedly Targeted
The UK Maritime Trade Operations agency reportedly received information about several merchant vessels being struck by disabling fire in the Gulf of Oman.
In a separate incident, Iraqi port officials said the tanker New Andros, carrying approximately two million barrels of fuel oil, caught fire after reportedly being hit by a drone in Iraqi waters.
No casualties were reported among the vessel’s 22 crew members.
Such incidents have increased concerns among shipping companies and energy traders over the safety of commercial vessels operating in the Gulf and surrounding waters.
Trump Warns Iran Amid Escalating Conflict
US President Donald Trump also issued a warning to Iran amid the continuing conflict.
Speaking at a Republican midterm convention in Dallas, Trump warned Tehran against activity at the fortified Pickaxe Mountain site near the damaged Natanz uranium enrichment facility.
Trump said the United States was monitoring activity at the site and warned Iran against taking actions that could trigger further military action.
He also said the war with Iran would end immediately after the US midterm elections in November, although he did not explain why he expected Tehran to end the conflict at that point.
The developments have added further uncertainty to an already fragile regional security environment.
The Strait of Hormuz Crisis Impacts 2,000 Vessels and thousands of seafarers, underscoring the vulnerability of global maritime trade to geopolitical instability. If disruptions continue, higher shipping costs, energy prices and commodity prices could place additional pressure on economies around the world, with developing countries potentially facing the greatest impact.
