Strait of Hormuz vessel targeting heightens regional risk

The oil product tanker "Kheivan," operated by Kuwait Petroleum Corporation, was attacked in the Strait of Hormuz after being hit by an unknown projectile northeast of the Omani port of Lima, which further intensified regional risks. This occurred concurrently with Houthi threats to impose a blockade on navigation in the Red Sea, leading to a decline in shipping traffic through the strait to low levels, with the average dropping from 16 to 7 tankers per day. Shipping companies have taken precautionary measures, including route adjustments; for example, the "Balata Singapore" tanker diverted toward the Arabian Sea. Some vessels have also begun reviewing their routes to avoid risks, amid increasing threats that force shipowners to consider alternative options and steer clear of the area to ensure the safety of supplies and crews.

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