Dozens of French ships stranded as Strait of Hormuz crisis deepens

Yesterday 13:20

By: Dakir Madiha

Dozens of French ships stranded as Strait of Hormuz crisis deepens

France said dozens of its vessels are trapped in the Persian Gulf as the escalating conflict involving Iran, the United States, and Israel effectively shuts down the Strait of Hormuz, one of the world’s most critical maritime chokepoints.

French Transport Minister Philippe Tabarot said Friday that 52 French ships are currently stranded in the Gulf, with another eight blocked in the Red Sea, as Paris works to build an international coalition aimed at protecting commercial shipping in the region.

The crisis, now entering its second week, has disrupted roughly 20 percent of global daily oil supply along with large volumes of liquefied natural gas that normally pass through the narrow waterway between Iran and Oman. Iran’s Islamic Revolutionary Guard Corps declared the strait closed shortly after US and Israeli strikes on Iran began on February 28. A senior IRGC adviser warned that forces would target any vessel attempting to cross.

Major shipping companies have already suspended transit through the corridor. Maersk, CMA CGM, and Hapag Lloyd halted all sailings through the strait from March 1 and began rerouting services around the Cape of Good Hope. Mediterranean Shipping Company also stopped accepting cargo bookings destined for the Middle East.

CMA CGM introduced an emergency conflict surcharge ranging from $2,000 to $4,000 per container. The Ocean Alliance, which includes COSCO, Evergreen, and OOCL, confirmed that its Asia Europe routes would also bypass the Gulf by sailing around southern Africa.

According to Reuters, at least 200 ships including oil tankers, liquefied natural gas carriers, and cargo vessels remained anchored in open waters near Iraq, Saudi Arabia, and Qatar by March 4. Hundreds of additional vessels have been unable to reach Gulf ports. At least eight ships have been damaged since hostilities began and several sailors have been killed.

The crisis has intensified as marine insurers withdrew coverage. Major protection and indemnity clubs including Gard, Skuld, NorthStandard, the London P&I Club, and the American Club canceled war risk insurance starting March 5.

Insurance premiums surged sharply in response. Industry sources cited by Al Jazeera said war risk premiums jumped from about 0.25 percent of a ship’s value to roughly 1 percent within 48 hours of the conflict’s escalation. For a tanker valued at $100 million, that translates to nearly $1 million in insurance costs for a single voyage.

London’s marine insurance market has also expanded its designated high risk zone to include a broader area of Gulf waters, with premiums reported to be roughly five times higher than before the conflict.

Despite the shutdown, one vessel managed a rare passage. The tanker Pola switched off its tracking transponder on March 2 and crossed the strait to load crude oil in the United Arab Emirates, according to Reuters and ship tracking data. The voyage underscored both the risks and the urgency facing shipping companies as the conflict continues with no clear sign of de escalation.