The Panama-flagged oil tanker On Peace was shot at while passing through the Strait of Hormuz on October 20, 2023, resulting in 12 injured sailors. This incident is part of an increase in attacks on commercial shipping in the region, especially since tensions began between the United States and Iran in February 2023.
Details of the Incident
The oil tanker On Peace, owned by the Dubai-based company Onex, had 19 crew members, 17 of whom were Indian nationals. In this incident, 11 Indian sailors were injured and were transferred to the city of Khasab, Oman for treatment. The Indian government has strongly condemned this attack and called for an immediate halt to attacks on commercial vessels.
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Consequences of Increased Attacks
Recent attacks on shipping in the Strait of Hormuz have led to a significant increase in transit costs through the region. According to reports, tanker captains are being offered amounts of up to $100,000 per month and $50,000 for each passage through the Strait of Hormuz. Additionally, war insurance for tanker voyages has sharply increased, reaching $20,000,000. These developments have led to a severe reduction in the number of ships and crews willing to pass through this strait.
Since the onset of these tensions, 93 ships have been attacked, and 24 sailors have lost their lives. These statistics reflect the severity and frequency of attacks in these waters and have raised serious concerns about the security of shipping in the region. Some ships are now attempting to avoid potential dangers by turning off their GPS systems or passing through at night.
As this situation continues, transportation and shipping costs are expected to rise increasingly, which could lead to widespread economic repercussions globally.
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