# Strait of Hormuz Sees Ship Sinkings, Surging Oil Prices Amid Iranian Attacks

> At least 15 container ships have been attacked in the Strait of Hormuz over the past 10 days, leading to the sinking of two vessels, a sharp rise in oil prices, and increased shipping costs.

By PrimaryBrief newsroom · Published 2026-10-19T15:36:31.338266Z
Canonical: https://primarybrief.com/article/strait-of-hormuz-sees-ship-sinkings-surging-oil-prices-amid-iranian-attacks-ceb6c60b

Iran has attacked at least 15 container ships in the Strait of Hormuz over the past 10 days, resulting in the sinking of two vessels and pushing global oil prices to over $106 per barrel for Brent crude [1][2][7][15].

This escalation in maritime hostilities threatens a critical global trade chokepoint, disrupting supply chains, increasing transport costs for goods, and posing a risk of intensified inflation, especially for economies dependent on imported oil and goods [2][11].

## What the records show

The Singapore-flagged container ship GFS Pride sank on October 14, 2026, after being struck by projectiles near the Strait of Hormuz [7][10][12]. Singaporean authorities reported a fire on board as the cause of the sinking, stating that all 21 crew members were safely evacuated [8][13]. However, Iran's navy offered a different account, claiming the GFS Pride hit a sea mine after veering into an unauthorized route [8][14]. The vessel carried over 2,500 containers [15][16]. Following its sinking, hundreds of Iranian fishermen were observed collecting spilled cargo, including iPhones and perfumes, from the Strait [5][6][8].

Another vessel, the Antigua and Barbuda-flagged dry bulk carrier Cape Dao, also sank. This ship had been damaged in an earlier attack on September 23, 2026 [15][18].

The ongoing disruptions have directly impacted global energy markets. Brent crude futures rose to $106.08 a barrel, while U.S. West Texas Intermediate (WTI) crude climbed to $98.05 [2]. Some reports indicated Brent crude reached $109.90 and WTI $101.40 [9]. Shipping costs and insurance premiums have also surged. War-risk insurance premiums for transits through the Strait of Hormuz reached between 5% and 9% of a hull's value by late September 2026, a substantial increase from a pre-war baseline of approximately 0.25% [4]. Maersk, a major shipping company, announced on October 8, 2026, it would impose an additional fee of USD 1,000 per container for vessels transiting the Strait of Hormuz to cover increased insurance and crew risk compensation [3].

## The timeline

Attacks on commercial shipping in the Strait of Hormuz have intensified in the past 10 days leading up to October 19, 2026 [1].

*   **September 23, 2026:** The dry bulk carrier Cape Dao was damaged in an attack [18]. It later sank [15].
*   **Late September 2026:** War-risk insurance premiums for Hormuz transits reached 5% to 9% of hull value [4].
*   **October 8, 2026:** Maersk announced an additional USD 1,000 fee per container for Strait of Hormuz transits [3].
*   **October 13, 2026:** The Singapore-flagged container ship GFS Pride was struck by projectiles [10][13].
*   **October 14, 2026:** The GFS Pride sank [5][7].

## What changed and for whom

The Strait of Hormuz, which handles approximately one-fifth of global petroleum liquids consumption, or about 20 million barrels of oil per day in 2024, is experiencing severe disruption [2][11]. The increased costs of shipping, insurance, and fuel are raising concerns about inflation and liquidity pressures globally, particularly affecting oil-importing economies in regions like Africa [2]. Higher demand for dollars, weaker local currencies, and increased costs for transporting goods and producing food are anticipated [2]. The Persian Gulf is also a significant hub for global fertilizer production and exports [11].

## What the subject has said publicly

Iran states that its actions in the Strait of Hormuz are a direct response to US blockades of Iranian ports and economic sanctions [2][15]. Iran's latest proposal for reopening the Strait of Hormuz calls for the United States to end its naval blockade of Iranian ports [2].

## What we could not confirm

PrimaryBrief could not confirm the exact nature of the projectiles that struck the GFS Pride or the number of casualties, if any, from the attack on the Cape Dao beyond the report of one sailor killed [15][18]. The United States has not formally responded to Iran's latest proposal for reopening the Strait of Hormuz [2].

## Evidence cited
1. Strait of Hormuz scoured for spilt cargo after Iran attacks container ships (www.theguardian.com) — https://www.theguardian.com/world/2026/oct/19/strait-of-hormuz-spilt-cargo-iran-attacks-container-ships
2. (October 19 2026) Disruptions to shipping through the Strait of Hormuz are raising fuel costs and threatening to intensify inflation and liquidity pressures across Africa, with oil-importing economies particularly vulnerable to higher freight charges, insurance premiums and foreign-exchange demand. ... Oil prices rose slightly on Thursday as investors weighed the risk of further supply disruptions against potential United States (U.S.) efforts to ease sanctions on oil-carrying vessels. (forbesafrica.com) — https://forbesafrica.com/
3. (October 08 2026) Shipments on vessels transiting the Strait of Hormuz will incur an additional fee of USD 1,000 per container, covering costs including insurance premiums and crew risk compensation. This replaces the separately charged costs of the current Landbridge solution for shipments using this sea routing. For Middle East imports, the fee will be invoiced to the local consignee as basic ocean freight, payable through MyFinance on maersk.com. Existing Ocean bookings and cargo in transit.  (maersk.com) — https://maersk.com/
4. (October 16 2026) War-risk insurance premiums for Hormuz transits reached 5 to 9 percent of hull value by late September 2026, according to industry data. For a $100 million tanker, that represents $5 to $9 million per crossing — against a pre-war baseline of approximately 0.25 percent, or roughly $250,000 (The National / Marsh / S&P Global, July–October 2026). The Marsh insurance brokerage reported premiums of 7.5 to 10 percent as early as July. The IRGC mine campaign — three claims in seven we (houseofsaud.com) — https://houseofsaud.com/
5. (October 17 2026) Hundreds of Iranian fishermen have gone to the Strait of Hormuz to collect iPhones and perfume that spilt from the container ship GFS Pride, which sank on October 14. ... Hundreds of Iranian fishermen have gone out to the Strait of Hormuz to collect new iPhones and French perfume that spilt into the sea when the container ship GFS Pride sank on October 14, The Telegraph said. Video clips show crews pulling boxes from the water between half-sunk containers. Iran's navy says the  (indianexpress.com) — https://indianexpress.com/
6. (October 17 2026) Fishermen collected goods from the water after a vessel sank in the strait on Oct 14, say authorities. ... Iranian fishermen and salvage boat operators recovered hundreds of iPhones, French perfumes, and other imported goods from the Strait of Hormuz after they spilled into the sea following an incident involving the cargo ship GFS Pride, The Telegraph reported. (geo.tv) — https://geo.tv/
7. (October 14 2026) ... OCTOBER 14, 2026 16:14. A container ship has sunk near the Strait of Hormuz after being hit by a projectile, while a separate dry bulk carrier damaged in an earlier attack is also reported to be sinking, maritime security sources said on Wednesday. The Singapore-flagged GFS Pride container ship, with a small 2,824 TEU (20-ft equivalent unit) capacity, had sunk, the sources said. ... "Commercial vessel 'GFS PRIDE' reported sunk with floating containers ... mariners cautioned (jpost.com) — https://jpost.com/
8. (October 17 2026) Hundreds of Iranian fishermen took to the warm waters of the Strait of Hormuz this week, abandoning their usual catch in favour of consumer goods spilling from the wreck of a sunken container ship. Skiffs and salvage vessels spread across the strait as word travelled that smartphones, French fragrances and other valuable cargo were floating free. ADVERTISEMENT. "We are gathering and heading towards the Strait of Hormuz," one man declared in a video circulating online. "We heard (gbnews.com) — https://gbnews.com/
9. (October 19 2026) Global crude oil prices jumped over the weekend amid heightened tensions in the Strait of Hormuz. A market survey by DAILY POST on Sunday showed that Brent and West Texas Intermediate, WTI crude rose to $109.90 and $101.40 per barrel, respectively. This means that Brent and WTI crude prices surged by 3.71 per cent and 3.51 per cent, respectively. The development comes as two oil tankers reportedly exploded after hitting a landmine in the Strait of Hormuz, triggering a resurgenc (dailypost.ng) — https://dailypost.ng/
10. (October 15 2026) Two cargo ships have sunk near the Strait of Hormuz in the past 24 hours after being struck by unknown projectiles in separate incidents – highlighting the heightened danger to shipping as Iran steps up attacks in an attempt to regain control over the critical waterway ... Updated Oct 15, 2026, 8:12 AM ET. PUBLISHED Oct 15, 2026, 12:06 AM ET. Videos verified by CNN show Singapore-flagged container ship GFS Pride sinking after it was struck by unknown projectiles on October 13. (cnn.com) — https://cnn.com/
11. Global oil trade

 ... Its two unidirectional sea lanes facilitate the transit of around 20 million barrels of oil per day, representing roughly 20% of global seaborne oil trade, primarily from Saudi Arabia, the United Arab Emirates, Iraq, and Qatar. In 2024, an estimated 84% of crude oil and condensate shipments through the strait were destined for Asian markets, with China receiving a third of its oil via the strait, and had about a billion barrels in oil reserve (a few months of supply). Euro (wikipedia.org) — https://wikipedia.org/
12. (October 14 2026) A Singapore-flagged containership has sunk after being struck by a projectile in the Strait of Hormuz, as a widening series of attacks on merchant shipping raises fresh que
 (gcaptain.com) — https://gcaptain.com/
13. (October 14 2026) The Maritime and Port Authority of Singapore (MPA) was informed that two Singapore-registered container vessels, GFS PRIDE and GFS GISELLE, were reportedly struck by unknown projectiles while transiting the Strait of Hormuz on 13 and 14 October 2026 (Singapore Time), respectively. 2. GFS PRIDE sustained damage and a fire on board, and has since sunk. All 21 crew members were safely evacuated. No injuries have been reported. 3. GFS GISELLE sustained hull damage and has since arr (mpa.gov.sg) — https://mpa.gov.sg/
14. (October 14 2026) Hormuz: two ships sink off Oman as attacks target UAE-linked vessels. 14 Oct 2026by Riviera News. Strait of Hormuz attacks continue to mount, with three box ships and a tanker linked to the United Arab Emirates targeted in strikes on vessels on 13-14 October. Linked In · Twitter · Facebook · eCard. UAE-operated container ship GFS Pride has reportedly sunk after being struck by an unidentified projectile in the Strait of Hormuz, one of four commercial vessels reported to have be (rivieramm.com) — https://rivieramm.com/
15. (October 15 2026) Two cargo ships sank near the Strait of Hormuz Wednesday after they were struck by unknown projectiles. The Cape Dao had been badly damaged in a September attack that killed a sailor. The GFS Pride sank a day after it suffered an explosion off the coast of Oman. Crew members were safely evacuated as the massive vessel sank, littering the ocean with some of its 2,500 cargo containers. This comes amid a recent surge of attacks on civilian ships by Iran's military in response to t (democracynow.org) — https://democracynow.org/
16. (October 15 2026) A cargo ship carrying more than 2,500 containers has sunk south of the Strait of Hormuz after reportedly striking a naval mine and catching fire. An aerial view of a Maersk shipping container cargo ship in San Francisco Bay on May 30, 2023 in San Francisco, California.Brandon Sloter/Getty Images. A cargo ship with over 2,500 containers sank south of the Strait of Hormuz after reportedly hitting a naval mine and catching fire, according to the Iranian IRGC Navy. The incident is  (businessinsider.com) — https://businessinsider.com/
17. (October 15 2026) Two commercial vessels have reportedly sunk near the Strait of Hormuz amid a surge in attacks on shipping since the US-Iran war began on February 28. Singapore-flagged container ship GFS Pride sank on October 13 after catching fire, with all 21 crew members evacuated safely. Antigua and Barbuda-flagged bulk carrier Cape Dao sank in a separate September incident, killing one crew member. Maritime security agencies have reported a sharp increase in attacks, raising concerns over  (youtube.com) — https://youtube.com/
18. (October 15 2026) A container ship and a dry bulk carrier have both sunk near the Strait of Hormuz in the past 24 hours after being hit by projectiles in separate incidents, maritime officials said on Wednesday. Attacks around the waterway have surged over the past 10 days, with Iran saying it is stepping up strikes in response to the US blockade of its ports and tougher sanctions introduced last month. The Singapore-flagged GFS Pride, a small container vessel with a capacity of 2,824 20-foot eq (ajot.com) — https://ajot.com/
19. (October 19 2026) The sheer volume of attacks on commercial shipping around the Strait of Hormuz has left Britain's maritime security reporting centre struggling to keep track, with most vessels targeted in the increasingly dangerous waterway no longer reporting incidents directly. ... UKMTO has recorded 135 incidents related to the Iran-US conflict since hostilities began on February 28, including 114 reports of vessel damage and 76 people killed or injured. Twelve attacks were recorded in its  (splash247.com) — https://splash247.com/
20. (October 13 2026) Iran Escalates Attacks on Ships, Threatening Oil Export Recovery. October 13, 2026 by Grant Smith, Weilun Soon, Prejula Prem and Anthony Di Paola. Iranian attacks on ships crossing the Strait of Hormuz have surged, potentially threatening the recent recovery in Persian Gulf oil exports. People working in the shipping industry said there were signs that the flow of cargoes through the waterway may be slowing, after rising close to prewar levels earlier this month. Still, there w (insurancejournal.com) — https://insurancejournal.com/
21. (October 19 2026) Trump, for his part, told reporters in Atlanta last week, “Wait til you see what we do to Iran.” Israeli experts have warned that renewed conflict is only a matter of time as an uneasy standoff has continued, with Iran disrupting shipping through the Strait of Hormuz from where 20% of the world's oil flows. At the same time, the U.S. is maintaining its economic pressure on Tehran. High oil prices have risen 46% to $104 per barrel since the Feb. 28 attacks, pushing gasoline pric (jta.org) — https://jta.org/
22. (October 15 2026) Iran said Wednesday that a cargo ship has sunk after hitting a naval mine in the Strait of Hormuz. A boat floats as commercial vessels appear anchored in the Strait of Hormuz off Bandar Abbas, Iran, Tuesday, Oct. 13, 2026. Razieh Poudat / AP. THANKS TO OUR SPONSOR: Become a Sponsor. Meanwhile, a top Iranian official said Iran must be prepared for war even as it is negotiating with the U.S. And a hospital in Gaza said a woman was killed in an Israeli strike. Here is the latest n (opb.org) — https://opb.org/
23. (October 18 2026) Oil tanker reportedly hits mine in Strait of Hormuz

 Iran's Revolutionary Guards Corps on Saturday said an oil tanker was on fire in the Strait of Hormuz after hitting a mine in the waterway at the heart of the Middle East war. "A supertanker in violation of regulations, carrying more than two million barrels of crude oil and attempting to pass illegally through the Strait of Hormuz, struck a mine, triggering an explosion and a fierce fire," the Iranian military said. The stat (cbsnews.com) — https://cbsnews.com/
24. (October 14 2026) The Maltese-flagged container ship Safeen Prestige was hit by a projectile in March and later sank north of the Strait of Hormuz. Iran's Revolutionary Guards attacked and seized the container ship MSC Francesca in April. (Reporting by Jonathan Saul and Renee MaltezouEditing by ​Ros Russell and Philippa Fletcher). Comments. Leave a Reply Cancel reply. You must be logged in to post a comment. ... Copyright © 2026. All Rights Reserved. Listen. 1330 AM in Sheboygan, WI; 101.5 FM in (whbl.com) — https://whbl.com/
25. (October 14 2026) Vessels in the Strait of Hormuz near the beach of Bandar Abbas, Iran, October 13, 2026. LONDON. A Singapore-flagged container ship has sunk near the Strait of Hormuz after being hit by a projectile, while a dry bulk carrier damaged in an earlier attack is also reported to be sinking, maritime security sources said on Wednesday. Attacks around the waterway have surged over the past 10 days. The Singapore-flagged GFS Pride, a small container ... The Maltese-flagged container ship (thearabweekly.com) — https://thearabweekly.com/
26. (April 03 2026) The containership Safeen Prestige has succumbed to the fire that engulfed the vessel following an attack by Iranian forces on 4 March. Nearly a month after the initial strike, NAVEREA IX issued a maritime warning confirming the sinking, making Safeen Prestige the first ship reported to have been lost as a result of the hostilities involving Iran. RelatedNews. Attacks, piracy and dark-fleet risks surge in Q3 2026 · Three arrested after disguising themselves as port workers and boa (safety4sea.com) — https://safety4sea.com/
27. (October 15 2026) The Antigua and Barbuda-flagged Cape Dao, a dry bulk carrier, sank weeks after a September 23 attack that killed one crew member. The remaining crew were evacuated immediately after that attack.
GFS Pride and Cape Dao were the second and third vessels to sink since the US-Iran war began on February 28, according to International Maritime Organization (IMO) casualty data. The earlier loss was the Malta-flagged container ship Safeen Prestige, which sank north of the Strait of Hor (nationthailand.com) — https://nationthailand.com/
28. (November 21 2023) Between 2020 and 2022, volumes of crude oil, condensate, and petroleum products transiting the Strait of Hormuz rose by 2.4 million b/d as oil demand recovered after the economic downturn from the COVID-19 pandemic. In the first half of 2023, shipments of crude oil and condensates dropped because OPEC+ members implemented crude oil production cuts starting in November 2022. Flows through the Strait of Hormuz in 2022 and the first half of 2023 made up more than one-quarter of t (eia.gov) — https://eia.gov/
29. (October 15 2026) Beyond Hormuz: A regional energy export corridor (PDF)

 ... Approximately 20 million barrels per day of crude oil and refined products, equivalent to nearly one-quarter of global seaborne oil trade, pass through the Strait of Hormuz. It also carries 19% of global liquefied natural gas trade, including most LNG exports from Qatar and the UAE. With nearly 80% of oil volumes destined for Asia, ongoing disruption in the Strait of Hormuz is affecting producers, importing economies  (ey.com) — https://ey.com/
30. (October 15 2026) Escalation plans and stakes

 ... Masrawy said two senior Iranian officials told it that Iran is using new methods to target ships passing through the Strait of Hormuz to keep oil prices high and influence the U.S. midterm elections. One of Masrawy's officials said, “The aim is to thwart the United States and its allies' efforts to lower global oil prices,” while the report warned that the risk of attacks and higher shipping and insurance costs heighten efforts to restore norma (newscord.org) — https://newscord.org/
31. (October 15 2026) The Antigua and Barbuda-flagged bulk carrier “Cape Dao” has sunk near the Strait of Hormuz after being struck by a projectile. Sea-news.az reports citing Reuters, the UN International Maritime Organization (IMO) confirmed the vessel's sinking. Operated by the United Arab Emirates-based “Peonies Shipmanagement FZE”, the ship was originally targeted on September 23. This follows earlier reports from the same region confirming that a container ship carrying 2.5 thousand containers (sea-news.az) — https://sea-news.az/
32. (October 14 2026) The Antigua and Barbuda-flagged Cape Dao sank close to the Strait of Hormuz after being struck by a projectile on September 23, data from UN shipping agency the International Maritime Organisation showed, according to Reuters. The loss was reported less than 24 hours after the sinking of the Singapore flagged GFS Pride, which was struck by a projectile in a separate incident, maritime security sources said earlier. (dawn.com) — https://dawn.com/
33. (October 14 2026) The Antigua and Barbuda-flagged Cape Dao sank near the Strait of Hormuz after a projectile struck it on 23 September, data from the United Nations shipping agency, the International Maritime Organisation, showed on Wednesday. The loss was reported less than 24 hours after the sinking of the Singapore-flagged GFS Pride, which was struck by a projectile in a separate incident ... (middleeasteye.net) — https://middleeasteye.net/
34. (October 14 2026) Damage on the superstructure while smoke rises from the bulk carrier vessel Cape Dao after an attack at sea — SOCIAL MEDIA. By Jonathan Saul and Renee Maltezou. LONDON, Oct 14 (Reuters) - A container ship and a dry bulk carrier have both sunk near the Strait of Hormuz in the past 24 hours after being hit by projectiles in separate incidents, maritime officials said on Wednesday. Attacks around the waterway have surged over the past 10 days, with Iran saying it is stepping up st (al-monitor.com) — https://al-monitor.com/
35. (October 15 2026) Two vessels, a container ship and a dry bulk carrier, sank near the Strait of Hormuz in separate projectile attacks over the past 24 hours, maritime officials said on Wednesday. Maritime security sources said the GFS Pride, a Singapore-flagged container ship capable of carrying 2,824 twenty-foot equivalent units (TEU), went down while passing through the Strait of Hormuz. Watch. ON CAM: Iran Sinks Ship With 2,500 Containers In US-Approved Strait Of Hormuz Transit Route. The Mar (indiatimes.com) — https://indiatimes.com/
36. (October 15 2026) “The Antigua & Barbuda flagged bulk carrier CAPE DAO, originally hit on the 23 September, is reported to be sinking after an unsuccessful rescue attempt,” British maritime risk management group Vanguard said in a statement on Wednesday. Before the war, around 125 to 140 large commercial vessels including oil tankers, gas carriers, bunkers and container ships passed through the waterway every day. A fifth of global oil and seaborne gas was transported through the vital shipping  (independent.co.uk) — https://independent.co.uk/