Another Tanker Hit in Hormuz as Houthis Add to Regional Risks

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Or sign-in if you have an account.wmcquwl8wjodebcd}j773cie_media_dl_2.png Armed Conflict Location & Event(Bloomberg) — Another tanker was attacked in the Strait of Hormuz as renewed hostilities empty the waterway, while a threat by Houthi rebels to blockade Saudi Arabia in the Red Sea heightened regional maritime risks.THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountA tanker was struck by an unknown projectile northeast of Oman’s Limah, according to UK Maritime Trade Operations, which followed attacks in recent days on ships owned by Dynacom Tankers Management Ltd. Hormuz was deserted on Tuesday with no vessels observed transiting, ship-tracking data shows.Iran’s recent spate of attacks has focused on oil tankers shuttling through the strait along the Omani coast, often with their transponders turned off. While the latest vessel to be hit remains unidentified, earlier strikes have affected major operators such as South Korea’s Sinokor Group and Greece’s Dynacom, which have been instrumental in sustaining crude flows during much of the war.Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againIn the week ending July 19, Hormuz crossings averaged seven tankers each day, compared with 16 per day a week earlier, said Rahul Kapoor, global head of shipping analytics and research for S&P Global Energy. “Ship operators remain increasingly cautious, with risk tolerances continuing to be tested,” he said.An empty Sinokor supertanker, Plata Singapore, that was sailing toward the Gulf of Oman with the aim of reaching Saudi Arabia’s Ras Tanura in the Persian Gulf, deviated from its path on Sunday, according to ship-tracking data. The vessel is currently in the Arabian Sea. The South Korean company didn’t immediately respond to an emailed request for comment.The threat by Iran-backed Houthi militants to blockade Saudi Arabia’s maritime traffic has added another element of risk. Shipowners with vessels seeking to transit the Red Sea were advised to review their affiliations with the kingdom, with at least one supertanker in nearby waters switching its broadcast to say that it belongs to the Indian government. The India-flagged supertanker, Desh Viraat, which is half-filled with crude from Fujairah, began sailing southwest earlier this week toward Bab el Mandeb in the Gulf of Aden, signaling it had armed guards onboard. Soon after the Houthi threat on Monday, it switched that signal to “Govt. of India Await,” making clear that it has links to New Delhi. Desh Viraat’s owner, the Shipping Corp. of India, didn’t immediately respond to emailed request for comment.“Companies maintaining regular Saudi trade should consider their exposure elevated, particularly for vessels calling at Red Sea ports,” maritime risk company Marisks said in a note to clients late Monday seen by Bloomberg News.Even though it remains to be seen whether the Houthis will carry through with their threat, “for shipowners, risks have heightened,” said Anoop Singh, global head of shipping research at Oil Brokerage Ltd. “If you have an alternate voyage to take, then you will take that and avoid those in the region.”This advertisement has not loaded yet.Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.