October sees highest number of ship attacks on record, report says

October became the worst month because attacks on commercial shipping rose to an unprecedented monthly level. Noam Raydan recorded 28 confirmed and reported attacks in the Strait of Hormuz and nearby waterways during October. The data comes from a Washington-based think tank tracking maritime incidents worldwide since 2017.

The attacks were concentrated in the Strait of Hormuz. Between 5 October and 11 October, 12 ships were attacked, making that week the conflict’s most dangerous so far. The International Maritime Organisation’s wider tally also shows the scale of the threat, recording 120 incidents in the Strait and the broader Middle East since the conflict began.

The danger continued despite limited reporting. UKMTO recorded 135 conflict-related incidents by 16 October but warned that voluntary shipper reporting was insufficient. That means the confirmed totals may not capture every incident, while shipowners still entered the Gulf because freight rates and cargo discounts were attractive.

The Strait of Hormuz is the sea passage connecting the Gulf to wider international waters. It is an important route for oil tankers because commercial ships carrying crude must pass through this waterway to reach markets beyond the Gulf. The article identifies it as the main location for many recent attacks.

Its importance is tied to the size of the cargoes moving through it. A Very Large Crude Carrier, or VLCC, can carry about 2 million barrels of crude. When several such ships are attacked or delayed, the consequences can extend beyond individual vessels and affect the movement of oil cargoes.

The route is currently more dangerous because attacks increased sharply during the conflict with Iran. The institute recorded 28 attacks in October, while the IMO recorded 120 incidents in the Strait and the wider Middle East since the conflict began. UKMTO also reported incomplete voluntary reporting.

Since the US-Israeli war with Iran began on February 28, Noam Raydan recorded 113 confirmed and reported attacks in the Strait of Hormuz and nearby waterways. The International Maritime Organisation recorded a broadly similar total of 120 incidents in the Strait and the wider Middle East.

More than 30 Very Large Crude Carriers were listed as damaged in attacks, including 11 in October alone. Each VLCC can carry about 2 million barrels of crude. Reuters reached these findings by reviewing the IMO list alongside MarineTraffic vessel data, showing that the damage involved very large oil-carrying ships.

The damaged vessels represented about 3.5% of the global VLCC fleet, which exceeds 900 ships. The totals show a serious concentration of risk on a major shipping route. However, UKMTO said insufficient voluntary reporting meant the available figures may not capture the entire picture.

VLCC stands for Very Large Crude Carrier. It is a tanker designed to transport enormous crude-oil cargoes by sea. The article states that each VLCC can carry about 2 million barrels, making these vessels especially important in the international movement of crude.

Damage matters because a single affected ship represents a very large cargo capacity. More than 30 VLCCs were listed as damaged during the attacks, including 11 in October. Those vessels accounted for about 3.5% of the global VLCC fleet, which exceeds 900 ships.

When large tankers are attacked, owners may delay voyages, reroute ships, or demand higher freight rates to accept the danger. The article reports daily freight rates above $1 million, helping explain why some owners still loaded cargoes inside the Gulf. Damage and reduced willingness to sail can tighten available shipping capacity.

Shipowners continued sending tankers into the Gulf because the financial reward became unusually attractive. The article says daily freight rates exceeded $1 million, offering owners strong compensation for carrying cargo through a dangerous area. That income could outweigh the additional risks for some operators.

Regional producers also offered steeper discounts against dated Brent. This made Gulf cargoes more financially appealing to buyers and helped sustain demand for tanker movements. As owners became more willing to load cargoes inside the Gulf, more tankers came under attack.

The choice remains risky rather than safe. October had the highest number of attacks on record, and 11 VLCCs were damaged that month. UKMTO also warned that voluntary reporting was incomplete. Higher rates may attract ships, but continuing attacks could still reduce participation, raise transport costs, and make cargo deliveries less predictable.

Attacks can affect three connected parts of the oil market: the crude cargo, the tanker carrying it, and the cost of transport. If a major route becomes dangerous, shipowners may demand higher freight rates or avoid voyages. Longer delays and fewer available tankers can make oil deliveries more expensive and less predictable.

The article provides a clear shipping example. Daily freight rates exceeded $1 million as owners accepted Gulf cargoes despite the danger. More than 30 VLCCs were damaged, and each can carry about 2 million barrels. Losing or delaying even some large tankers can reduce available transport capacity.

In general, these pressures can push delivered oil prices higher and increase fuel costs for buyers. Supplies may tighten if cargoes cannot move reliably, although the article does not report a specific price increase or shortage. Continued attacks would likely keep freight markets and supply planning under pressure.

Crude oil is the unrefined petroleum that producers sell and buyers move to refineries. Tanker shipping carries that crude between producing regions and consuming markets. VLCCs are among the largest ships used for this trade, with capacity of about 2 million barrels each.

Dated Brent is a widely used benchmark price for physical crude. A producer’s discount against that benchmark means buyers can obtain its cargo for less than the reference price. The article says regional producers offered steeper discounts against dated Brent, increasing the appeal of Gulf cargoes.

Shipping costs then affect the final economics. When attacks make the route riskier, owners can charge more, with daily freight rates exceeding $1 million in the article. Buyers weigh the cheaper crude against higher transport risk and cost. This helps explain why some owners still loaded Gulf cargoes even as attacks reached record levels.