Maritime Industry Braces for Iran-Israel Tensions

The maritime industry of the world is going to be in a much difficult position after Iran ramped up the tension by launching a first-ever drone and missile attack on Israel. This has disrupted the supply chain and increased the chances of vessel's stranding on the sea, experts here have indicated. Iran’s move to act against Israel is a manifestation of the significant development in hostilities between the two countries since they are now engaged in a direct confrontation. 

On Saturday night, Iran and its allies fired 330 missiles and drones at Israel in retaliation to a supposed attack attributed to Israel earlier in April on a diplomatic facility of Iran in Damascus where several people, including two senior commanders, were killed.

The durability of the Persian Gulf Shutdown is a concern but many feel that the parties will eventually tone down their tensions in the region, a delegate attending the commencement of Singapore Maritime Week on Monday, informed PTI. Persian Gulf is a sea of same category as that of Mediterranean Sea which is in west of Asia. 

It has the Gulf of Oman to the east and the Strait of Hormuz constitutes one of the most critical choke points in the world. Each vessel adding a detour to the Cape of Good Hope via the Suez Canal needs to spend $30 million, according to Danish Sultan, who is a managing director of a marine logistics company, PacMarine Services in Singapore.