Industry Weighs Risk to Seafarers, Balance Sheets in Hormuz Transits
- Mar 6
- 2 min read
Growing security tensions in the Gulf region are raising serious concerns for the global shipping industry, particularly regarding vessel transits through the strategically important Strait of Hormuz. As attacks on commercial shipping increase, shipowners and maritime organizations are divided on whether vessels should continue operating in the region or temporarily avoid it in order to protect seafarers.
According to industry observers, merchant ships passing through the Strait of Hormuz face a direct threat from Iran, which has demonstrated the capability to strike vessels attempting to transit the area. Even after passing through the strait, ships entering the Persian Gulf remain vulnerable, as ports from Kuwait to Dubai lie within potential targeting range.
Some major shipping companies have already taken precautionary measures. Operators such as Maersk and CMA CGM have suspended calls to ports in the Gulf region in order to eliminate war-related risks for their crews. However, an estimated 20,000 seafarers are still operating on vessels already positioned west of the strait.
At the same time, other shipowners continue to send vessels through the area, citing the economic benefits of maintaining trade routes. For owners of very large crude carriers (VLCCs), voyages to the Middle East have become exceptionally profitable. In some cases, a single voyage can generate revenue equivalent to a significant portion of a vessel’s total value.
Under the rules of the International Bargaining Forum (IBF), seafarers must be informed about risks associated with entering combat zones and have the right to request repatriation. Nevertheless, such decisions can involve professional and contractual uncertainties for crew members.
Industry organizations have so far stopped short of recommending a full suspension of shipping operations in the region. Instead, groups such as INTERTANKO and OCIMF stress the importance of comprehensive risk assessments and responsible operational decision-making. They emphasize that the safety and wellbeing of seafarers must remain central when evaluating whether vessels should continue operating in high-risk areas.
Concerns have also been voiced by the International Chamber of Shipping, which called on governments to ensure safe passage for merchant vessels. The organization highlighted that freedom of navigation is essential for global trade and that states have a responsibility to protect maritime transport and the crews who operate it.
Meanwhile, private security experts are urging even greater caution. According to analysts from EOS Risk Group, at least ten attacks on commercial shipping have occurred within a 72-hour period, resulting in casualties and at least one abandoned vessel. Some security specialists therefore recommend postponing transits through the Strait of Hormuz until the situation stabilizes.
Tensions are also visible among maritime workers themselves. In the Greek port city of Piraeus a key hub for the global tanker industry unionized seafarers have protested outside the shipowners’ association building. Demonstrators demanded the immediate evacuation and safe repatriation of all maritime personnel currently operating in the Gulf region, the Gulf of Oman and the Red Sea.
Union representatives argue that the safety of crews must take precedence over commercial interests. According to Angelos Galanopoulos, head of the engineering officers’ union Stephenson, all seafarers currently operating in high-risk areas should be returned home until security conditions in the region improve.
Image source: maritime-executive.com
