March 11, 2026

Cargo ship hit by projectile in Strait of Hormuz, crew evacuates

An unknown projectile causes fire onboard, prompting the crew ‌to ⁠evacuate and request assistance

March 11, 2026

Cargo ship hit by projectile in Strait of Hormuz, crew evacuates

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DUBAI: A cargo vessel ‌was hit by an unknown projectile in the ⁠Strait of Hormuz, resulting in a fire onboard and prompting the crew ‌to ⁠evacuate and request assistance, according to ⁠the United Kingdom Maritime Trade ⁠Operations on Wednesday.

About a fifth of global oil and liquefied natural gas normally passes through the strait but Iran, which lies on its northern coast, has effectively closed it. Traffic through the strait has dropped by 97% since the U.S.-Israeli war against Iran began on February 28, according to United Nations data.

The U.S. is seeking to calm oil markets concerned that a protracted war could cause a global energy crisis.

Iran's Revolutionary Guards have warned that any ship passing through the strait will ⁠be fired on. At least 11 ships have been attacked since the conflict began.

But most of the traffic has halted, partly out of caution and also because insurance companies have raised premiums by as much as 300%.

Oil prices briefly climbed to their highest level since 2022 on Monday. High oil prices could trigger another cost-of-living crisis, as happened after Russia's invasion of Ukraine in 2022, according to the United Nations.

A prolonged conflict could also cause a fertilizer shock, risking global food security. About 33% of the world’s fertilisers, including sulphur and ammonia, pass through the Strait, according to analytics firm Kpler.