Ship Struck in Hormuz as Oil Supertankers Turn Back Again

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(Bloomberg) — A ship was hit by an unknown projectile in the Strait of Hormuz, just hours after several freighters turned around while attempting to cross the vital waterway, developments that may undermine what had been a rapid reopening of the energy chokepoint. 

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The unidentified cargo ship was hit on its side and sustained damage to the bridge while it was sailing to the southeast of Oman, UK Maritime Trade Operations said. UKMTO, which liaises between merchant shipping and the military, advised vessels to “transit with caution.” 

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If Iran is found to be behind the incident, which UKMTO classified as an attack, it would hit shipowners’ and crews’ fragile confidence that they can once again sail through the oil corridor safely. Tehran has repeatedly said that ships can’t pass Hormuz without its permission and a handful of tankers turned around earlier in the day after reportedly hearing warnings from the Iranian Navy that they shouldn’t cross.

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Vessels had been racing out of Hormuz since an interim peace deal between the US and Iran came into effect last week, quickly adding millions of barrels of supply. Gulf energy producers have begun ramping up production as flows through Hormuz appeared to be holding up.

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Two key exit routes through Hormuz have emerged over the past several weeks because the normal one through the middle is thought to have been mined. One is near the Iran, while the other hugs Iran’s coastline and is protected by the US.

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Two Supertankers

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A few hours earlier, at least three commercial vessels, including two oil supertankers, appeared to turn around while attempting to cross Hormuz outbound on the Oman side. Shipping intelligence company Windward Maritime said the u-turns came after Iran’s Revolutionary Guard Corps instructed vessels to turn around using radio calls and social media platforms.

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Not all ships U-turned around the same time as those that turned back, according to tracking data compiled by Bloomberg. Some continued their exits. Iranian media also reported that Tehran was reasserting its control over transits. 

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Thursday’s tumult comes two days after the International Maritime Organization, the UN’s global shipping regulator, said it had received assurances that passage through Hormuz was safe. The IMO canceled a media briefing on Thursday minutes before it was due to start, due to unspecified urgent matters. 

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Traffic through Hormuz quickly picked up after an interim peace deal between the US and Iran took effect last week. However, there have been glitches, including when Iran said at the weekend that the waterway was shut. Tehran’s Persian Gulf Strait Authority said last week that no ships are allowed to transit Hormuz without its permission. 

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Oil prices turned higher after the incident in Hormuz was reported. Earlier in the day Brent futures had wiped out all of their gains from the Iran war, trading as low as $72.09. They rose closer to $75 after the UKMTO report.

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In addition to three outbound U-turns, a fourth ship appeared to turn around after sailing toward Hormuz from the Gulf of Oman, the vessel tracking data show. 

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—With assistance from Weilun Soon, Sara Gharaibeh, Ruth Liao and Jack Wittels.

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(Updates with Windward data in fourth paragraph.)

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