Hormuz shipping risk deepens as US strikes Iran and Tehran fires back

The security situation around Iran’s southern coast worsened again on Thursday, after the US launched a fresh round of strikes on Iranian targets and Tehran responded by firing at US-linked positions in Gulf Arab states, deepening fears over the safety of shipping through the Strait of Hormuz. The latest escalation follows several days of attacks on commercial vessels near one of the world’s most important energy routes, as well as new damage reported in the southeastern Iranian city of Chabahar, where power infrastructure, port facilities and military-linked sites have come under pressure. According to Reuters, US forces struck around 90 Iranian military targets, including air defence systems, coastal surveillance assets, missile and drone storage sites, naval capabilities and military logistics infrastructure along Iran’s coastline. Washington said the strikes were aimed at keeping the Strait of Hormuz open to traffic, after president Donald Trump declared that the interim agreement with Iran was “over”. The Associated Press reported that Iran responded by targeting Bahrain, Kuwait and Qatar, prompting sirens and alerts in parts of the Gulf. There was no immediate word of major damage in those countries, although Iran’s Health Ministry said two days of US strikes had killed at least 14 people and wounded 78 in Iran. The renewed fighting has added another layer of risk to Chabahar, a strategic port city on Iran’s southeastern coast, near the Gulf of Oman. Iranian media reported explosions in several locations, including Chabahar, Konarak, Bandar Abbas, Bushehr and Sirik, while earlier reports from the city pointed to damage to power transmission lines and disruption to electricity supplies. Iranian media also said fragments had struck Imam Ali Hospital in Chabahar. Videos circulating on social media have claimed to show strikes on the Imam Ali Naval Base of the Islamic Revolutionary Guard Corps, as well as other military targets in the area, although these details have not been independently confirmed. Chabahar’s importance goes beyond the immediate military picture. The city includes the Shahid Beheshti terminal, which India has been helping to develop as part of a long-term port agreement with Iran. Any sustained disruption there would therefore carry wider trade and regional implications, particularly at a time when Gulf shipping routes are already under intense pressure. For international shipping, however, the main concern remains the Strait of Hormuz. The International Energy Agency says around 25 per cent of the world’s seaborne oil trade passed through the strait in 2025, along with almost 20 per cent of global LNG trade, making any escalation in the area a direct concern for energy markets, insurers and shipowners. That concern has grown sharply after three tankers were hit near the strait earlier this week. Reuters reported that the Qatari LNG carrier Al Rekayyat was struck while transiting the area, while the Saudi-flagged crude tanker Wedyan was also damaged. Another vessel later reported minor structural damage after being hit by an unmanned aerial vehicle. The Qatari tanker remained stranded off Oman after the attack, with Reuters reporting that a projectile strike had sparked a fire in its engine room. Its LNG cargo was believed to be intact and all crew members were safely evacuated. EOS Risk Group has raised its assessment for the Strait of Hormuz to EXTREME, urging commercial operators to postpone transits unless absolutely necessary. The warning reflects growing concern that Iran is trying to impose greater control over vessel movements, particularly by discouraging use of the southern route through Omani waters and pushing ships towards the northern passage closer to Iran. This leaves shipowners facing an increasingly difficult choice. They can coordinate with Iran’s Persian Gulf Strait Authority for the northern route, or work with the US Navy’s Naval Cooperation and Guidance for Shipping for the southern corridor. Neither option is simple. One carries political and operational exposure to Iran, while the other places vessels inside a more openly US-backed security framework. The financial impact is already being felt. Reuters reported that some war-risk insurers have advised shipowners to pause Hormuz voyages, while premiums for ships in the Gulf have moved towards 3 per cent of a vessel’s value, up from around 2 per cent at the end of last week. Some sources warned that cover could become even more expensive if the attacks continue. The human cost is just as serious. The International Maritime Organisation (IMO) has condemned the attacks on ships in the Strait of Hormuz and said hundreds of vessels, carrying around 6,000 seafarers, remain stranded in the Persian Gulf. IMO Secretary-General Arsenio Dominguez has called for maximum restraint, warning that crews should not be placed in danger simply for doing their jobs. Oil markets, meanwhile, are trying to assess whether the latest escalation will lead to a longer disruption. Prices were little changed on Thursday morning, with Brent trading near $78 a barrel, although Reuters noted that both main benchmarks had risen after the latest US strikes and remained vulnerable to further volatility. The pressure is also spreading across other maritime corridors. In the Red Sea, the threat to vessels linked to Israeli interests remains high, while the Gulf of Aden continues to raise concern over piracy. The IMO has separately called for the urgent release of 44 seafarers held by pirates in Somali waters, adding to the sense that several key shipping routes are becoming more dangerous at the same time.