Attacks on oil tankers in the Strait of Hormuz in the week ending October 5, 2023, reached at least 12 incidents, the highest recorded since the start of the Iran war on February 28, 2023. This data was collected based on information from maritime security sources monitoring incidents in the region.
Details of the Attacks on Oil Tankers
The recent attacks on oil tankers, including oil as well as liquefied natural gas and liquefied petrochemical gas, reflect Iran's desire to maintain its power and influence in key energy transit routes. Maritime security sources stated that such actions clearly demonstrate Iran's intent to keep pressure on passing ships.
Read more: Attacks by Yemeni Armed Forces on Fuel Tanks at Aramco Refinery in Riyadh
Compared to previous weeks, the number of attacks this week reached its highest level. In the week ending October 5, at least 12 attacks on oil tankers occurred, while the closest week with a similar number was the week of July 13, which recorded eight incidents.
Economic and Security Implications
Attacks on oil tankers in the Strait of Hormuz, recognized as one of the key routes for global oil and gas exports, could have profound effects on global energy markets. This region is the transit point for a significant portion of the world's oil and natural gas, and any disruption in this route could lead to price increases and severe fluctuations in international markets.
Additionally, the Ministry of External Affairs of India announced that 12 crew members of the Panamanian tanker "On Peace" were injured following an unidentified projectile hitting the ship in the Strait of Hormuz. This incident highlights serious threats to vessels in this area.
Previously, data from the International Maritime Organization (IMO) indicated that nine incidents related to ships were recorded in the same week. This data is typically delayed and requires official confirmation.
In this context, oil producers in the Gulf have managed to bring their exports back to pre-war levels around mid-September, but attacks on oil tankers and logistical constraints could affect the outlook for sustained high flows.
Finally, Trafigura Group announced the purchase of seven tankers from SFL Corp, indicating the willingness of trading companies and state-owned energy firms to increase oil and petrochemical transportation capacity. Additionally, Qatar has been gathering a fleet of empty liquefied natural gas tankers in the Gulf, seemingly preparing for increased exports through the Strait of Hormuz.
Read more: Increase in Houthi Attacks on Saudi Oil Infrastructure · Fire on Aframax Rio Tanker in the Black Sea Due to Drone Attack
