Loss Prevention Advice
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Attacks on commercial shipping are escalating as the Middle East conflict enters its 13th day. Overnight, Iranian explosive-laden boats reportedly attacked two fuel tankers in Iraqi waters, setting both vessels ablaze and killing one crew member.
In the past 48 hours, six vessels have reportedly been struck by projectiles or missiles, leaving several ships on fire and seafarers at the center of the unfolding crisis. To remind, on 11 March, three vessels were reported attacked. The Japan-flagged container ship ONE Majesty was struck by a suspected projectile, while the bulk carrier Star Gwyneth was hit while anchored, sustaining hull damage. The Thai-flagged vessel Mayuree Naree also suffered a strike which caused a fire and damage to the engine room. Three crew members remain missing and are believed to be trapped in the engine room.
Overnight on 12 March, two foreign oil tankers were set ablaze in Iraqi waters (reported as the Greek-owned chemical/product tanker Zefyros and the US-owned Safesea Vishnu) following an Iranian attack. At least one person was killed and 38 crew members were rescued. According to the UK Maritime Trade Operations (UKMTO), the incident occurred approximately 5 nautical miles south of Al Basrah in Iraqi territorial waters, where a third party reported that two tankers had been struck by unknown projectiles.
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Below you will a weekly report dated 11 March 2026, covering the period of 5 to 11 March, where the following incidents were reported:
- 1 maritime security incidents in West Africa in the last 7 days
- 8 maritime security incidents in the Indian Ocean/Middle East in the last 7 days.
Full advisory at the following link.
https://britanniapandi.com/wp-content/uploads/2026/03/ARC-Weekly-Report-11.03.26.pdf
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Further to Circular No. 05/26 of March 1, 2026, regarding the cancellation of War Risks cover for certain non-mutual covers in the Persian/Arabian Gulf and the Gulf of Oman, the Club advises that arrangements have now been made which may allow for the reinstatement of such cover for Charterers on a buy-back basis.
This coverage is subject to additional premium on a per voyage basis. For further details, rates, and terms and conditions, Members are asked to contact the Club’s Underwriting Department with full details of the relevant voyage.
The Notice that was issued on March 1, 2026, does not apply to mutual entries for P&I and FD&D cover.
Full advisory at the following link.
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The latest maritime intelligence, indicates that crisis conditions persist across the Strait of Hormuz, where reduced traffic, rising security threats and insurance pressures continue to disrupt global shipping routes.
As of 11 March 2026, the operating picture remains in crisis conditions across the Strait of Hormuz and adjacent Gulf waters. According to the Diaplous Weekly Intelligence report (4-11 March), commercial traffic remains drastically reduced, tanker flows have collapsed from pre-conflict levels, insurers have sharply repriced or withdrawn cover on selected voyages, and the tactical threat has remained active, with repeated projectile and drone-related incidents against commercial shipping and regional energy infrastructure.
The latest confirmed case is a cargo vessel struck by an unknown projectile in the Strait of Hormuz on 11 March, causing a fire and crew evacuation. In practice, this means the regional risk baseline has shifted from disruption-sensitive navigation to a persistently hostile, highly constrained operating environment where voyage viability, insurer acceptance, and real-time tactical conditions are all gating factors.
The Red Sea, Bab el-Mandeb, and Gulf of Aden remain elevated-risk rather than normalized. The immediate center of gravity has shifted eastward to Hormuz and the Gulf, but the western corridor has again absorbed secondary disruption as major liner operators paused or rerouted transits away from Suez and Bab el-Mandeb after the late-February escalation.
This should be treated as a reversal of the tentative corridor recovery seen earlier in 2026. Voyage planning should continue to align with BMP MS 2025, maintain pre-entry reporting to UKMTO and MSCIO, and assume that regional trigger events can rapidly transmit from the Gulf into Red Sea routing, pricing, and operational decisions.