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Geopolitical Risk · Oil Supply · Shipping · Strait Of Hormuz
The South Korean oceans ministry confirmed 186 South Korean seafarers are stranded on 26 Korean and foreign vessels in the Strait of Hormuz, a critical waterway for 20% of global oil and gas, due to the effective closure caused by escalating Middle East conflict following US-Israeli strikes on Iran.
The 144 crew members on 26 Korean vessels and an additional 42 on foreign ships are unable to depart the region. Safety concerns are mounting for these individuals.
The ministry maintains real-time communication with shipping companies and vessels, monitoring locations and safety conditions. Vice Oceans Minister Kim Sung-bum is discussing provisions for daily necessities and arrangements for crew disembarkation and repatriation if the situation persists.
Iran's Revolutionary Guards warned of missile launches on foreign ships attempting passage, while US President Donald Trump stated the US Navy is ready to escort oil tankers through the route. This situation significantly impacts global energy supply chains.
