The ongoing conflict between U.S. allies and Iran has resulted in a concerning number of vessels and carriers being struck. Several news outlets and social media platforms continue circulating sensationalist reports that, unfortunately, are not far from reality. VesselTracker analysts confirmed that in the first 12 days of March, 11 vessels were hit and rendered inoperative across three key maritime zones: the Mediterranean Sea (south of Italy), the Middle East Gulf (within the territorial waters of Iraq, Qatar, and the UAE), and the Arabian Sea under Omani jurisdiction.
The situation is critical, with attacks occurring alarmingly close to major commodity‑handling facilities. A notable example is the SAFESEA VISHNU, which was struck approximately 500 meters from the Khor Al Zubair Offshore Terminal in Iraqi territory. At the Mediterranean the situation is complex too, the Arctic Metagaz LNG tanker, heavily damaged after a drone strike, was left abandoned south Italy and Malta and is now drifting toward Libya. Authorities warn it carries large amounts of fuel and gas, posing a serious risk of explosion and a major environmental threat to the Mediterranean.
Although determining responsibility for each attack remains challenging, the reality is clear: the Mediterranean, the Red Sea, and the Middle East Gulf have become increasingly hazardous transit corridors for vessels, particularly for crude carriers, oil/chemical tankers, product tankers, bitumen carriers, and LNG vessels.
Freight rates, already elevated due to international instability linked to the war in Ukraine and piracy activity in the Red Sea, are expected to rise further as security risks intensify and route diversions become more frequent.
To stay ahead of the current force majeure escalation, consider leveraging Wood Mackenzie’s monitoring and analytical services.
