Container ship sinks in Strait of Hormuz amid Iran attacks

Investing.com -- A container ship sank in the Strait of Hormuz on Wednesday after being struck by an unidentified projectile and catching fire.

The GFS Pride, registered in Singapore, went down following the incident. All 21 crew members were safely evacuated with no injuries reported, according to the Maritime and Port Authority of Singapore.

"Such attacks are unprovoked, unjustifiable and a breach of international law," the Singapore maritime authority said in a statement Wednesday.

Iran's Revolutionary Guard claimed early Wednesday that a container ship exploded and sank after hitting a naval mine, according to the state news agency Tasnim. Maritime security firm Marisks said there is no independent evidence to confirm that a mine caused the Pride to sink.

Iran's claims are "consistent with an ongoing psychological operations campaign aimed at generating fear, increasing uncertainty and discouraging commercial shipping" in Hormuz, Marisks said in a security alert.

Iran has increased its strikes on commercial ships transiting Hormuz in recent weeks as it attempts to restrict crude oil exports through the strait.

More than 20 vessels, mostly oil tankers, have come under attack this month in Hormuz, the Persian Gulf and Gulf of Oman, according to incident reports from the United Kingdom Maritime Trade Operations Centre.

The attacks this month have left two sailors missing and 12 injured, according to the International Maritime Organization, a United Nations agency.

Crude oil exports through Hormuz reached prewar levels in September as the U.S. military guided tankers through the strait, but shipments have since declined as attacks increased.

Crude exports through Hormuz averaged 8.5 million barrels per day in the week ended Oct. 12, nearly 40% below normal levels before the Iran war, according to data from Kpler. Shipments from the entire region, including pipelines to the Gulf of Oman and Red Sea, stood at 14 million bpd, or nearly 20% below prewar levels, the data showed.

Original Article

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