Shipping keeps sailing Strait of Hormuz despite attacks
One Singapore ship sank this week, but operators cite high energy prices as reason to continue sailing.
A Singapore container ship sank after being struck by a projectile this week; another was damaged. Some operators say most vessels will keep using the Strait despite escalating attacks, because Asian demand for Middle Eastern oil remains strong and prices have risen higher.
Operators accept higher insurance costs and security risks as a trade-off. One Gulf oil producer runs a "Hormuz shuttle" with about 20 large tankers, accepting occasional hits because higher crude prices make the voyages profitable.
Major container shipping lines have largely suspended services, but some regional operators and tanker companies continue seeking opportunities through the chokepoint.
- GFS Pride sank, GFS Giselle damaged
- Ships hit
- fell to 131 from 176
- Weekly crossings
Why it mattersIf attacks intensify further, rerouting around Africa could delay shipments weeks and push energy prices higher across Asia.
AustraliaAustralia's energy costs and trade timelines depend on Hormuz remaining viable; extended disruption could force expensive reroutes or cause supply chain delays.
✓ Claims checked against the source and corrected before publish. checked 2 h ago
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