Number Six

🔺Arsenio Dominguez, secretary-general of the UN’s International Maritime Organization (IMO), shared several significant updates on the Strait of Hormuz and the wider maritime crisis in an interview with Bloomberg on Sunday: ➤ Shipping Collapse: Before the war, approximately 135 vessels transited the strait daily. That fell over 90% to an average of just 12 per day between October 22 and 28, with only two recorded crossings on October 29. Many tankers are operating with tracking systems switched off, making actual traffic harder to measure. ➤ Attacks and Casualties: The IMO confirmed 30 attacks on vessels in October alone and more than 120 since the war began. Two vessels recently sank in the strait, including a container ship. At least 24 seafarers have been killed, with several others missing or seriously wounded. ➤ Mines and Environmental Damage: Dominguez said previous assessments indicated approximately 80 mines in the established shipping corridor, and there is no confirmation the waterway has been cleared. Attacks have now caused oil spills off Qatar, Oman and the UAE. ➤ Global Economic Fallout: Citing UN trade data, Dominguez said jet fuel prices have surged 80% and shipping fuel approximately 70%. Diesel prices have risen more than 20% in over 95 countries. Disruptions are also affecting manufacturing and fertilizer shipments, threatening food security. ➤ Limited Alternatives: Countries are developing pipelines, rail connections and alternative trade routes to bypass conflict zones, but Dominguez said land-based alternatives can transport only around 5% of affected cargo volumes.