Strait of Hormuz crisis: Tankers ablaze as Iran seizes control of vital energy route

The global economy is now being held hostage by Iran, as a barrage of drone and missile attacks strikes the energy arteries of the Middle East. The crisis is not limited to oil; the disruption of navigation in the Strait of Hormuz directly threatens LNG supply chains, skyrocketing uncertainty regarding global energy sufficiency.

The Strait of Hormuz is under the total control of Iran, with consecutive strikes hitting merchant ships and tankers in the area. Greek shipping has now become a target, as the tanker "Zefyros," interests of George and Vassilis Michael, was attacked while in Iraqi territorial waters. At the same time, news that Iraq has fully suspended its oil terminal operations following Iranian attacks on crude oil tankers has sent shockwaves through the industry. Under the weight of these developments, oil prices soared, with Brent crude reaching $100 per barrel on Thursday (12/3/2026), as traders worry that the release of strategic reserves will fail to offset the massive supply shock caused by the war in the Middle East.

Iraq suspended oil port operations

Iraq fully suspended operations at its oil terminals early this Thursday (12/3/2026) following Iranian attacks on crude tankers, Farhan al-Fartousi, head of the state ports company, told the Iraqi News Agency. Amid growing concerns over maritime security, Al-Fartousi confirmed that two tankers were hit near Basra, resulting in the death of one crew member and the authorities' decision to close the country's ports.

6 ships hit in 48 hours

Iranian vessels laden with explosives reportedly attacked two fuel tankers in Iraqi territorial waters, engulfing them in flames and causing the death of one crew member, while projectiles struck four more ships in Gulf waters. The vessels targeted late Wednesday night (11/3/2026) in the Gulf near Iraq were the Marshall Islands-flagged "Safesea Vishnu" and the "Zefyros," which had loaded fuel in Iraq, two Iraqi port officials told Reuters. An Iraqi port security source stated that the "Zefyros" was flying the Maltese flag.

"We recovered the body of a foreign sailor from the water," a port security official said, as Iraqi rescue teams continue searches for other missing sailors. It was not immediately clear which ship the victim belonged to. "A vessel from the Iraqi Ports Company rescued 25 crew members from the two ships, while fires continue to burn on both," Farhan al-Fartousi, director general of Iraq's state General Company for Ports (GCPI), told Reuters.

Al Jazeera correspondent in Baghdad, Mahmoud Abdelwahed, reported that the attack on the two tankers was characterized as sabotage by officials. "Iraqi authorities argue this is a blatant violation of Iraqi sovereignty, given that this act of sabotage occurred within the country's territorial waters," Abdelwahed stated.

The strike on the Greek-owned vessel

Following the strike on a Star Bulk ship belonging to Petros Pappas, a strike followed on a tanker of the Michael family, which was sailing in the territorial waters of Iraq in the Persian Gulf. This is the "Zefyros," belonging to the company Benetech of George and Vassilis Michael, which manages a fleet of six tankers in total.

It is noted that Vassilis Michael is married to Christina Vakaki, daughter of "Mr. Jumbo," while the patriarch of the family, Michael Michael, was a close associate of the "king of tankers," Loukas Hadjioannou. A shocking video shows the moment the Maltese-flagged "Zefyros" is engulfed in flames after a drone attack. The tanker was performing a ship-to-ship transfer operation within Iraqi territorial waters. According to the Ministry of Maritime Affairs, it was struck by a suspected Iranian unmanned surface vessel. The 22 Georgian nationals making up the crew are in good health.

Hormuz under Iranian control

According to Reuters, reports of the use of drones laden with explosives—which Ukraine has used in the war with Russia—come as Iran has blocked the passage of oil cargoes through the critical Strait of Hormuz. One-fifth of the world's oil and gas passes through this Strait; however, passage has been blocked amid the US-Israeli war against Iran. The Iranian Revolutionary Guard (IRGC) has warned that any ship attempting to pass through the Strait will be a target.

Early Thursday (12/3/2026), the United Kingdom Maritime Trade Operations (UKMTO) announced that an unknown projectile hit a container ship 35 nautical miles (64.8 km) north of Jebel Ali in the United Arab Emirates, causing a small fire. The crew is safe. The Thai-flagged dry bulk carrier "Mayuree Naree" was hit by "two projectiles of unknown origin" on Wednesday as it sailed in the straits, causing a fire and damage to the engine room, managing company Precious Shipping said in a statement. "Three crew members are missing and believed to be trapped in the engine room," Precious Shipping reported. "The company is working with the relevant authorities to rescue the three missing," it added, noting that the remaining 20 crew members were safely evacuated and are in Oman. Images shared by Thai news outlet Khaosod English showed crew members after their rescue by the Oman Navy.

The Revolutionary Guard stated in an announcement carried by the semi-official Tasnim news agency that the ship was "hit by Iranian fighters," suggesting the first direct involvement of the Guard, who previously had only used missiles or drones. The Japanese container ship "ONE Majesty" also suffered minor damage Wednesday from an unknown projectile 25 nautical miles (approx. 46 km) northwest of Ras Al-Khaimah in the UAE, according to two maritime security firms. Japanese shipowner Mitsui OSK Lines and a spokesperson for Ocean Network Express, which charters the ship, stated the vessel was hit while anchored in the Gulf, and hull inspection found minor damage above the waterline. All crew are safe, and the ship remains fully operational.

Photos of Thai crew members aboard the cargo ship Mayuree Naree have emerged after the vessel was attacked near the Strait of Hormuz.

The Thai-flagged ship had departed Khalifa Port in the UAE on 11 March before coming under attack. Ship owner Precious Shipping said three crew… pic.twitter.com/XMD1YF9K4e

— Khaosod English (@KhaosodEnglish) March 12, 2026

A third vessel, a bulk carrier, was also hit by an unknown projectile approximately 50 nautical miles (approx. 93 km) northwest of Dubai. The projectile caused damage to the hull of the Marshall Islands-flagged "Star Gwyneth," according to risk management firm Vanguard, adding that the crew is safe. Shipowning company Star Bulk Carriers reported the ship was hit in the cargo hold area while anchored, with no injuries.

US Navy "refutes" Trump

The US Navy has rejected the almost daily requests from the shipping industry for military escorts through the Strait of Hormuz since the war began, stating that the risk of attacks is currently too high. According to Reuters, US Navy assessments indicate that the disruption of oil exports from the Middle East will continue. This occurs even though US President Donald Trump had previously stated that Washington is ready, whenever deemed necessary, to provide naval escorts for the resumption of normal ship passage in this vital waterway.

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