Tanker attacks continue in Hormuz as Gulf shipping rates remain elevated

Attacks on tankers transiting the Strait of Hormuz have continued, according to a report from Anadolu Agency citing the UK's maritime security agency, which recorded further projectile strikes in the area along with a threat from Iran's Islamic Revolutionary Guard Corps (IRGC) directed at tanker traffic.

The continued incidents add to a pattern of maritime security concerns in one of the world's most important energy shipping corridors, through which a significant share of global crude oil exports passes.

Shipping costs remain elevated

Reflecting the heightened risk environment, the Baltic Exchange reported that tanker earnings on the Gulf-to-China route have climbed above $1.2 million per day, underscoring how security concerns in the Gulf are translating into higher costs for shipping operators and, potentially, for energy buyers further down the supply chain.

Maritime security officials have not detailed the exact nature or location of the latest projectile strikes, and it remains unclear whether any vessels sustained damage or casualties as a result.

The situation continues to be monitored closely by shipping companies and insurers, many of whom have already adjusted routing and risk premiums in response to the ongoing tensions in the Gulf region.