Tanker disabled by projectile as Hormuz transit hits record low
The latest strike in the Strait of Hormuz underscores the tightening grip of Tehran’s blockade, with preliminary data showing only one commodity vessel transited the waterway on Monday.
An oil tanker was struck and disabled by an unknown projectile in the Strait of Hormuz off the coast of Oman, according to the United Kingdom Maritime Trade Operations (UKMTO). The incident, which occurred nine nautical miles northeast of Ash Shishah, caused damage to the vessel’s engine room but no casualties were reported. The UKMTO statement did not specify the tanker’s nationality or direction of travel, leaving the precise circumstances of the strike under further investigation.
The strike occurs against a backdrop of significantly reduced maritime traffic. Preliminary shipping data indicates that only one commodity vessel transited the strait on Monday, the lowest number recorded since 7 May. This sharp decline in transit numbers highlights the effectiveness of the blockade imposed by Tehran following military strikes on Iran by the United States and Israel in late February.
Tehran has sought to control the waterway by charging tolls for passage and targeting ships it accuses of circumventing its preferred route. The International Maritime Organisation (IMO) has confirmed 68 incidents in the Gulf and neighbouring waters, with at least 20 seafarers or port workers killed. The agency noted that about half of these incidents have involved tankers, reflecting the sector’s vulnerability in the current climate.
Diplomatic efforts to manage the escalation are ongoing, with Pakistan’s army chief, Asim Munir, holding discussions with Iran focused on preventing further conflict and reopening the strait. Meanwhile, the United States is preparing to announce new sanctions on Iran, a move billed as an "economic D-day" that is expected to add further pressure on the country’s economy.
The US Treasury recently sanctioned Singapore-based Wellbred Capital and its trading firms in the UAE and Switzerland, citing links to Iranian oil shipping magnate Mohammad Hossein Shamkhani. These measures target nearly 60 companies, individuals, and ships, aiming to disrupt Tehran’s global financial links.
Oil prices steadied on Tuesday after falling more than 2 per cent in the previous session. Brent crude futures were down 9 cents, or 0.1 per cent, at $92.16, while US West Texas Intermediate crude was up 1 cent at $85.02 a barrel. Investors appear to be assessing the impact of the harsher US secondary sanctions against Iran on the broader energy market.
