The United Kingdom Maritime Trade Operations (UKMTO) has issued a warning that growing instability in the Middle East could result in increased military activity, potentially disrupting shipping routes that are vital for global trade.
These waterways serve as key trade waterways for oil and other essential commodities such as grain.
The US and Iran are scheduled to meet this week to discuss Iran’s nuclear ambitions. However, the situation remains tense, with the US threatening military intervention if talks collapse, while Iran has indicated it may target American military installations in the region if hostilities erupt, reported Reuters.
In a recent advisory, the UKMTO noted it is closely monitoring the situation and highlighted that escalating tensions could have direct consequences for commercial vessels. It advised ships to exercise caution when navigating the Gulf, the Gulf of Oman, and the Strait of Hormuz.
British maritime security company Ambrey reported that ships linked to Israel could face an elevated risk of retaliatory attacks. The firm also warned that significant US involvement in Israeli military actions could increase the threat to American ships and vessels carrying US goods.
Concerns have also been voiced by industry insiders, particularly about the risk of regional spillover if hostilities between Israel and Iran intensify, especially in the Gulf waters. Tensions previously escalated when Iran launched drone and missile strikes at Israel, which then responded with air attacks on Iranian sites, reported Reuters.
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“Any attack will have a certain potential to escalate and impact shipping as well as implicate military forces of other countries operating in the area, including the US,” commented Jakob Larsen, Chief Safety & Security Officer, BIMCO.
“A full-blown armed conflict between Israel/US and Iran would most certainly effectively close the Straits of Hormuz at least for a period of time and drive up oil prices.”
Earlier this week, US and Chinese officials announced a tentative framework agreement aimed at revitalising their trade relations.
