Strait of Hormuz: Two Merchant Ships Sink with 23 Attacks Recorded Since October

The Singapore-flagged container ship "GFS Pride" sank near the Strait of Hormuz after being hit by a projectile, Reuters reported, citing maritime security sources. The vessel has a capacity of 2,824 TEU and is operated by UAE-based GFS Ship Management FZE, which did not respond to a request for comment.

In a separate incident, the Antigua and Barbuda-flagged bulk carrier "Cape Dao" was reported to be sinking near the strait after being hit by a projectile on September 23. The ship is also operated by UAE-based Peonies Shipmanagement FZE, according to the same sources.

Security sources stated that 10 vessels have come under attack since Sunday, bringing the total number of attacks to 23 since the beginning of October. The Navy of Iran's Islamic Revolutionary Guard Corps (IRGC) said a container ship carrying over 2,500 containers sank in the southern Strait of Hormuz after hitting a naval mine while navigating a route it described as unauthorized.

This comes at a time when a significant portion of global energy exports and goods passes through the strait, driving up shipping and insurance costs and doubling risks to supply chains. Operators are re-evaluating their routes and premiums, a development impacting import costs and delivery times in the region.

What Do These Terms Mean?

Strait of Hormuz: A narrow waterway connecting the Gulf to the Gulf of Oman, through which a major portion of global oil, gas exports, and trade goods passes.

Twenty-Foot Equivalent Unit (TEU): A unit of measurement for container ship capacity, equal to a standard 20-foot container, used to compare vessel and port sizes.

Marine Insurance Premiums: Amounts paid by shipping companies to cover war risks and damages, which rise during escalations in attacks on vessels in vital waterways.