Middle East Shipping Concerns Escalate

April 16, 2024

 

The shipping situation in the Middle East region took a concerning turn for the worst on Saturday, when Iranian troops boarded the containership ‘MSC Aries’ and seized it shortly after it had left Dubai.

The weekend’s dramatic escalation of hostilities between Iran and Israel will be of more concern to world leaders, but the 15,000 TEU ship’s seizure became the first attack in the Strait of Hormuz and the first by Iranian military.

The Strait of Hormuz is a narrow sea channel that links the Persian Gulf with the Gulf Of Oman and separates the United Arab Emirates from Iran. It is critical to shipping, as it provides the only access to ports in Bahrain, Iraq, Kuwait, Qatar, and the UAE.

Until now, cargo ship attacks had been limited to routes near Yemen, such as the Red Sea and Gulf Of Aden, where Iranian linked Houthi Rebels have launched their drones and missiles from occupied parts of the country.

However, if the situation escalate in the Persian Gulf region, then it will be difficult to see how carriers can safely serve any ports within the Middle East.

There is also concerns that Somali pirate attacks have been increasing during the past 6 months, with over a dozen incidents reported since November and one bulk carrier understood to be the subject of a recent $5 million ransom settlement. Somalia’s coastline is on both the Indian Ocean and the Gulf Of Aden.

The ‘MSC Aries’, along with its 25 man crew, is still understood to be under Iranian military control. Hopefully, there will be some resolution soon.

 

 

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