Alert levels are rising in the Strait of Hormuz , one of the main chokepoints in the global oil trade. The international shipping industry has classified it as a "war zone," with approximately 1,000 ships stranded in the area due to the military escalation in the Middle East. According to the Lloyd's Market Association of London , the value of the stranded vessels exceeds $25 billion , and approximately half are carrying oil and gas.
The European Union describes the situation as "extremely worrying" for maritime security and is keeping naval missions, including Aspides and Atalanta, on high alert, while Iran claims "full control" of the strait and claims to have struck a US oil tanker in the Gulf.
The designation of the Strait of Hormuz, the Gulf of Oman, and the Persian Gulf as areas of warfare was decided by the international maritime industry after a meeting of global trade unions and shipping companies , in light of the increased risks to commercial shipping and the "hundreds" of ships stranded in the region. The decision responds to the "extent of disruption and risks to which civilian crews in the region are exposed," they explained.
The designation as a "war zone" offers seafarers the highest possible level of security and grants them the right to refuse boarding, the option of repatriation at the shipowner's expense, and various bonuses and allowances. According to the International Maritime Organization (IMO), the UN agency responsible for maritime safety, approximately 20,000 seafarers and 15,000 cruise ship passengers are currently stranded in the Gulf. The association representing Lloyd's of London insurers estimates, as mentioned, that of the 1,000 ships stranded in the region, approximately half are carrying oil and gas, with potential repercussions on global energy markets.
(Unioneonline)