Iran has effectively restricted access to the Strait of Hormuz, a vital global shipping route, with some ships from specific nations reportedly attempting to navigate through the strait in pursuit of significant financial gains, according to a report by Reuters on the 13th (local time).
As per information from maritime analysis companies Lloyd’s List Intelligence and MarineTraffic, at least 10 ships affiliated with Greek firms and at least two ships linked to Chinese companies have transited the Strait of Hormuz since the U.S. and Israel launched their air strikes on Iran on the 28th of last month.
A Greek shipowner engaged in these trips, who chose to remain unidentified, stated, “The risk is extremely high,” yet also mentioned, “Nevertheless, the sea has always been a dangerous endeavor.” A different Greek shipping representative involved in the trade likened the stressful and hazardous passage through the narrow waterway to “entering an enemy’s bathtub.”
Ships traveling through the Strait of Hormuz have either disabled their Automatic Identification Systems (AIS) or navigated during nighttime to evade monitoring by Iranian authorities.
The cause of these dangerous journeys is the sharp rise in logistics transportation costs following the start of the Iran conflict, enabling operators to make millions of dollars per trip even with higher insurance expenses and pay increases for crew members.
According to brokerage information, ship owners can currently make as much as $500,000 (about 750 million South Korean won) each day via charter agreements, representing the highest daily average profit in six years.
Former President Donald Trump once urged ships to go through the Strait of Hormuz, saying, “Have the courage to go through.” He also noted that the U.S. Navy would offer protection if required, but the U.S. Navy has not yet answered calls for ship escorts.
Stephen Cotton, the head of the International Transport Workers’ Federation (ITF), a significant union representing maritime workers, condemned the action, saying, “Sending sailors to the Strait of Hormuz at this time is like sending them into a real war zone. This is risking the lives of seafarers.”
Iranian military has carried out missile and drone strikes against ships in the Strait of Hormuz, resulting in damage to no fewer than 16 vessels and leading to injuries and deaths.
Reuters reported that Norwegian billionaire John Fredriksen previously earned substantial gains by carrying and transporting crude oil in the area during the Iran-Iraq war in the 1980s, even though there were dangers from missile attacks. However, it now refers to the present scenario as “one of the most courageous journeys since then.”
The Strait of Hormuz, shared in management by Iran and Oman, serves as a crucial passage for oil and merchandise from Middle Eastern oil-producing nations. A blockage in this area could lead to a significant rise in global oil prices. After facing assaults from the U.S. and Israel, Iran stated, “We will not let even a single drop of oil leave,” thereby implementing the blockade.
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