Two ships sink near Strait of Hormuz after projectile strikes

Two commercial ships, the Singapore-flagged GFS Pride and the Antigua and Barbuda-flagged Cape Dao, have sunk near the Strait of Hormuz following projectile strikes amid an unprecedented surge in Iranian missile and drone attacks. Iran states it is escalating strikes in response to a U.S. port blockade and sanctions, aiming to elevate global oil prices. Daily crude flows through the waterway have dropped 43 percent below pre-war levels, sending supertanker charter rates to a record $805,000 per day.

Commercial vessels sunk during conflict

• ▪The GFS Pride and Cape Dao are the second and third commercial vessels to sink since the US-Iran war began on February 28, 2026, following the March 2026 sinking of the Maltese-flagged container ship Safeen Prestige
• ▪The Antigua and Barbuda-flagged dry bulk carrier Cape Dao sank near the Strait of Hormuz around October 14, 2026, weeks after being struck by a projectile on September 23, 2026, which killed one crew member
• ▪The Singapore-flagged container ship GFS Pride sank after sustaining damage and a fire from a projectile strike while transiting the Strait of Hormuz on October 13, 2026, with all 21 crew members evacuated safely

Iranian strategy behind maritime strikes

• ▪Iranian Revolutionary Guards seized the container ship MSC Francesca in April 2026 after Tehran restricted transit through the Strait of Hormuz to gain leverage over Washington
• ▪Senior Iranian officials stated Tehran is deploying new tactics against vessels transiting the Strait of Hormuz to keep oil prices elevated and influence U.S. midterm elections
• ▪Iran stated it is stepping up strikes in response to a U.S. blockade of Iranian ports and tougher sanctions introduced in September 2026

Surge in recent shipping attacks

• ▪Four vessels were struck on Tuesday, October 13, 2026, bringing the total number of attacked ships in or near the Strait of Hormuz since October 11 to at least 10
• ▪UK Maritime Trade Operations reported six vessels were attacked on Sunday, October 11, 2026, marking the deadliest single day for shipping near the Strait of Hormuz since the US-Israel-Iran war began
• ▪Twenty-four ships were hit by Iranian missile and drone attacks in the two weeks leading up to October 11, 2026, surpassing the previous peak of 13 ships hit during the first two weeks of March 2026

International responses to ship attacks

• ▪India's foreign ministry expressed deep concern on October 11, 2026, following Iranian missile and drone attacks on ships carrying Indian crew members that left two Indian seafarers missing and several injured
• ▪The Maritime and Port Authority of Singapore stated that continued attacks on commercial shipping in the Strait of Hormuz are unprovoked, unjustifiable, and a breach of international law

Impacts on oil and tanker markets

• ▪Global supertanker earnings reached a record $805,000 per day on October 9, 2026, as longer re-routing journeys and ship-to-ship transfers increased tanker demand by 13 percent
• ▪Oil flows through the Strait of Hormuz dropped to 2.9 million barrels per day on October 11, 2026, driving the seven-day average about 43 percent below levels before the US-Israel-Iran war that began on February 28

Maritime threat assessments

• ▪Maritime risk management company MARISKS warned on October 14, 2026, that threats in the Strait of Hormuz extend beyond oil tankers to container vessels and bulk carriers
• ▪The Institute for the Study of War reported that Iran may be developing its anti-ship missile capabilities to improve its ability to target vessels