12/03/2026
2 tanker vessels have been attacked near Iraq. Both vessels are on fire and crew has abandoned both vessels. One of these appears to be US-owned "Safesea Vishnu" with one Indian crew member having been killed in the attack. There are unconfirmed reports that at least one of the tankers was hit by a drone boat. Video in this post is one of the tankers getting hit, and is widely circulated on the internet presently.
A container vessel has been hit while at anchor north of Jebel Ali. UKMTO reports a fire erupted onboard with damage assessment imparired by darkness. Crew is safe. It is at this point not clear which container vessel it was.
A few vessels continue to take the risk and cross the Strait of Hormuz each day. No container vessels in the past day. But there have been transits from for example General Cargo Vessel "Ayrin", bulk carrier "Broad Rich" and sanctioned oil tanker "Lan Jing".
Operations in Salalah Port were suspended following a successful attack on the fuel storage tanks in the port. This is a key container transhipment hub outside the Gulf area.
Iran warned that if US attacks Iranian ports, Iran will consider all ports in the Persian Gulf as legitimate targets.
Global average VLSFO low sulphur fuel price spiked to 921 USD/ton according to Ship&Bunker, up from 576 USD/ton before the crisis.
Crude oil prices increased despite an announcement from IEA and US of the largest emergency release of oil reserves ever seen. The total release is just below 600
Million bbl. Global oil production is around 100 Million bbl per day.
CMA CGM announced an increase in FAK rates on Asia-Med from March 22nd. The increase is 700 USD/40' compared to the current FAK rate and is an increase of 1700 USD/40' compared to the level before the Hormuz crisis. The also announced a 1000 USD/container FAK increase from Indian Subcontinent to both Europe and Latin America.
CMA CGM has reopened import and export bookings to/from the Gulf locations but only for overland transport using bonded landbridge solutions from Jeddah, Khor Fakkan, Fujairah, Sohar, Aqaba and Mersin.
MSC announced a list of Emergency Fuel Surcharges, Unlike quite a few other carriers, these are differentiated by tradelane and not a one-size-fits-all. As an example Asia to US and Canada will be 430 USD/40' to East Coast and 272 USD/40' to West Coast.
US launched a section 301 trade investigation against China, EU, Singapore, Switzerland, Norway, Indonesia, Malaysia, Cambodia, Thailand, Korea, Vietnam, Taiwan, Bangladesh, Mexico, Japan, and India. This will run until mid-May and is the ground work for new tariffs.
MSC will develop a new container terminal in Lagos on a 45-year concession.
Today is day 844 of the Red Sea crisis and day 13 of the Hormuz crisis.
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