Shipowners are skipping or rescheduling ship-naming ceremonies at South Korean shipyards as the United States-Iran war disrupts vessel operations, flight schedules and event attendance linked to the Middle East.
Three merchant vessels including MAYUREE NAREE, One Majesty, and Star Gwyneth were reportedly damaged on 11 March near the Strait of Hormuz, raising renewed concern over maritime security and crew safety in one of the world’s most critical shipping corridors.
The United States introduced a $20 billion maritime reinsurance programme for eligible vessels in the Gulf, aiming to support trade flows and war-risk cover through the Strait of Hormuz.
ADNOC is cutting offshore oil output to manage storage as the U.S.-Israeli war on Iran disrupts shipments through the Strait of Hormuz, while onshore operations continue.
The IMO has urged shipping companies to put crew safety first after attacks on merchant vessels in the Strait of Hormuz caused seafarer casualties. The agency also warned operators to use only confirmed information when making navigational decisions in the high-risk corridor.
Seafarers on IBF-covered ships can now refuse voyages through the Strait of Hormuz and the wider Middle East Gulf after the threat level reached its highest category. The new arrangement includes repatriation rights, two months of basic wage compensation, higher pay in the zone, and doubled compensation in death or disability cases.
Iran said the Strait of Hormuz remained open and ruled out an immediate shutdown, even as ship movements through the waterway nearly came to a standstill during the US-Iran war.
COSCO Shipping Lines has suspended new bookings to several Middle East destinations after a security risk review, joining major carriers avoiding the Strait of Hormuz amid rising tensions.
MSC has suspended all cargo bookings to the Middle East and instructed vessels in the Gulf region and those en route to proceed to designated shelter locations amid rising security risks near Hormuz and Bab el-Mandeb.
