Commercial Ships Hit by Projectiles in Strait of Hormuz and Off Iran Coast

On the morning of March 11, 2026, the United Kingdom Maritime Trade Operations center issued yet another set of grim reports: three more commercial cargo ships had been struck by projectiles off the coast of Iran, including one vessel on fire in the Strait of Hormuz that forced its crew to evacuate [1]. The attacks brought the total number of maritime incidents since the outbreak of the U.S.-Iran war to at least 17 — including 13 confirmed attacks on civilian vessels and four reports of suspicious activity — according to UKMTO records [2].

For the estimated 20,000 seafarers stranded aboard roughly 3,000 ships in the Persian Gulf, these latest strikes are not an aberration. They are the continuation of an escalating campaign that has effectively transformed one of the world's most critical shipping chokepoints into a war zone, killing at least seven civilian mariners and threatening the 20% of the global oil supply that transits through the narrow waterway [3][4].

The Spark: Operation Epic Fury and Iran's Retaliation

The maritime crisis is inseparable from the broader military conflict that erupted on February 28, 2026, when the United States and Israel launched Operation Epic Fury — a joint campaign of nearly 900 strikes in just the first 12 hours targeting Iran's nuclear infrastructure, missile arsenals, air defenses, and senior leadership [5]. Among those killed in the initial wave was Iran's Supreme Leader, Ayatollah Ali Khamenei, along with dozens of other top officials [6].

Iran's response was swift and multidirectional. The Islamic Revolutionary Guard Corps (IRGC) launched retaliatory missile and drone strikes against U.S. military bases, Israeli territory, and Gulf Arab states that host American forces — including the United Arab Emirates, Bahrain, Qatar, Kuwait, Saudi Arabia, and Oman [7]. Explosions rocked Dubai, Doha, and Manama. Two Iranian drones struck near Dubai International Airport, the world's busiest hub for international air travel, wounding four people [8].

But perhaps the most consequential element of Iran's retaliation was its decision to choke the Strait of Hormuz. On March 2, the IRGC formally declared the strait a "closed military zone," warning that any vessel attempting transit would be targeted [9]. It was a threat that Tehran has made for decades but never fully executed — until now.

Anatomy of a Maritime Siege

The attacks on commercial shipping have been methodical and indiscriminate in their targeting. Vessels of diverse flags and functions have been struck, underscoring that the campaign appears designed to deter all non-Iranian transit rather than target specific adversaries.

Among the earliest casualties was the oil tanker Skylight, struck by a projectile north of Khasab, Oman, on March 1, killing two Indian crew members and injuring three others [4]. On March 4, the containership Safeen Prestige was hit by an unidentified projectile and abandoned by its crew. When a tugboat was dispatched two days later to assist the stricken vessel, it was struck by two missiles and sank, leaving at least three crew members missing and four confirmed dead [10].

The March 11 incidents targeted three separate vessels across a wide geographic arc: a Thai bulk carrier, Mayuree Naree, hit 11 nautical miles north of Oman; the Japanese container ship One Majesty, struck 25 nautical miles northwest of Ras Al Khaimah in the UAE; and a third vessel hit 50 nautical miles northwest of Dubai [1][2]. The ship in the Strait of Hormuz caught fire, and the crew evacuated into life rafts [11].

The International Maritime Organization's Secretary-General, Arsenio Dominguez, called the seafarer deaths "unacceptable," warning that the 20,000 crew members stranded in the region are under "heightened risk and considerable mental strain" [3]. The International Transport Workers' Federation and the Joint Negotiating Group jointly designated the Strait of Hormuz, Gulf of Oman, and Persian Gulf as a Warlike Operations Area — a classification that triggers additional pay and insurance protections for seafarers but also signals the extraordinary danger of the waterway [3].

GPS jamming has added another layer of peril. Reports from maritime intelligence firms indicate that vessels in the region have experienced significant disruptions to navigational systems, compounding the risks for crews attempting to move through or anchor safely in contested waters [12].

The Economic Shockwave

The effective closure of the Strait of Hormuz has sent tremors through global energy and shipping markets with a speed and intensity that confirms long-standing fears about the chokepoint's vulnerability.

Source: FRED / U.S. Energy Information Administration

Data as of Mar 4, 2026CSV

Tanker traffic through the strait has collapsed by approximately 90% compared with pre-conflict levels [13]. More than 150 ships initially anchored outside the strait to avoid the danger zone; soon after, transit effectively fell to near zero [4]. The Strait of Hormuz normally handles roughly 21 million barrels of oil per day — about a fifth of the world's consumption — along with significant volumes of liquefied natural gas, particularly from Qatar [14].

The immediate impact on oil prices was dramatic. Brent crude surged past $100 per barrel on March 8 for the first time in four years, peaking at approximately $126 per barrel before retreating to around $88-94 in volatile trading [15][16]. The research firm Wood Mackenzie warned that prices could reach $150 per barrel in coming weeks and potentially $200 if the closure persists [15]. U.S. gasoline prices, meanwhile, climbed to an average of $3.19 per gallon by March 11, up 22 cents from just one week earlier [4].

The insurance market has been equally disrupted. In the days before the strikes, war-risk ship insurance premiums for Hormuz transit had already risen from 0.125% to between 0.2% and 0.4% of a vessel's insured value. After the conflict escalated, new war risk contracts were being written at 1% of hull replacement value, renewable every seven days [17]. The International Group of P&I Clubs voided existing war risk coverage effective March 5, requiring entirely new specialized policies [17].

Daily charter rates for oil supertankers quadrupled within a week to nearly $800,000 [18]. Iraq and Kuwait began shutting in oil production, with analysts warning that the UAE and Saudi Arabia could face similar constraints if the closure persists [15].

In response, the United States launched a $20 billion reinsurance program through the U.S. International Development Finance Corporation, designed to cover hull, machinery, and cargo losses and thereby incentivize shipping companies to resume transits [19].

Iran's Selective Blockade

One of the most geopolitically revealing dimensions of the crisis has been the question of which ships Iran allows through. Satellite tracking data analyzed by CNBC and maritime intelligence firms shows that Iran has continued to export its own crude oil through the supposedly closed strait — sending at least 11.7 million barrels to China since the war began [20].

This has fueled accusations of a selective blockade. Early reports suggested that Iran might grant passage exclusively to Chinese-flagged or Chinese-owned vessels, citing Beijing's relatively supportive diplomatic posture toward Tehran [21]. However, the evidence on this point has been mixed. Ship-tracking data indicates that Chinese tankers and container ships have also largely ceased transits, with dozens of Chinese vessels trapped in the Persian Gulf alongside those of other nations [22].

China, for its part, has been pressing Iran to keep the strait open, particularly for Qatari LNG exports on which several Asian economies depend [22]. The tension between China's public solidarity with Iran and its urgent economic interest in open sea lanes highlights the complex geopolitical dynamics underlying the crisis.

The Military Response: Escorts and Confusion

The possibility of U.S. Navy escorts for commercial vessels has emerged as a central policy question in Washington. On March 10, U.S. Energy Secretary Chris Wright posted on social media that the Navy had successfully escorted an oil tanker through the strait — a claim that was quickly deleted after the White House confirmed it was false [23][24].

The Pentagon, through Joint Chiefs Chairman guidance, confirmed that the military is "assessing how to reopen the flow of crude oil tankers and cargo ships through the Persian Gulf" under a planning framework dubbed Operation Epic Escort [25]. President Trump stated he would "absolutely utilize" military escorts "if and when necessary at the appropriate time" [23].

Internationally, France announced it was coordinating with European and other states to establish a support mission for merchant ship escorts, though this was contingent on the end of the "most intense phase of the conflict" [25]. The disconnect between stated willingness and actual action underscores the military risks: escorting tankers through a strait where Iran has demonstrated both the capability and willingness to strike civilian vessels raises the specter of direct military confrontation between U.S. naval forces and Iranian shore-based anti-ship missiles.

Beyond the Strait: A Wider War on Infrastructure

The maritime attacks are only one element of Iran's broader retaliatory strategy, which has expanded to target critical infrastructure across the Gulf. Tehran's joint military command announced on March 11 that it would begin targeting banks and financial institutions in the Middle East — a threat that came after an Iranian branch of the state-owned Bank Sepah was struck by coalition airstrikes, killing staff members [8].

The UAE is now considering freezing Iranian assets held in the Gulf state, a move that could cripple Tehran's access to foreign currency and global trade networks [26]. The escalation from military to economic warfare represents a dangerous new phase of the conflict.

Qatar suspended all maritime navigation. Bahrain halted operations at its Khalifa Bin Salman Port. Flights across the region were disrupted [7]. The economic architecture of the Persian Gulf — built over decades on the assumption that the Strait of Hormuz would remain open — is being stress-tested as never before.

What Comes Next

As the conflict enters its second week, several critical questions remain unresolved. The appointment of Mojtaba Khamenei — the former Supreme Leader's son — as Iran's new Supreme Leader on March 8 has not produced any softening of the maritime blockade [6]. If anything, the new leadership appears to be doubling down on the strategy of asymmetric economic warfare.

The humanitarian dimension is growing more urgent by the day. With 20,000 seafarers stranded, limited evacuation options, and continuing attacks, the risk of a mass casualty incident on a civilian vessel remains high [3]. The ITF has called for an immediate humanitarian corridor to allow stranded crews to leave the region safely.

For global consumers and businesses, the ramifications are already arriving. Higher energy costs are feeding through supply chains, and the rerouting of shipping away from both the Strait of Hormuz and the Red Sea — still disrupted by Houthi attacks — means that the world's two most critical maritime chokepoints are simultaneously compromised [27]. The last time anything remotely comparable occurred was during the 1980s "Tanker War" between Iran and Iraq, which saw over 400 ships attacked over eight years. The current conflict has produced 17 incidents in less than two weeks.

The Strait of Hormuz crisis is not merely a shipping story. It is a test of the global order's ability to maintain freedom of navigation in international waters, protect civilian mariners, and prevent a regional war from becoming a global economic catastrophe.