Around 400 Ships With 6,000 Seafarers Remain Stranded in Persian Gulf Six Months After Iran Conflict Began

The Quick Take

• Shipping insurance premiums for Persian Gulf transits remain at elevated war-risk levels, increasing the cost of oil and commodity trade through the corridor
• Oil tanker rates globally benefit from rerouting around the Gulf, reducing available tanker capacity and supporting spot freight market rates
• Diplomatic negotiations between Iran, the EU and Gulf Cooperation Council states that could create a humanitarian corridor for vessel release

Approximately 400 ships carrying around 6,000 seafarers remain stranded in the Persian Gulf six months after the conflict with Iran began in late February, according to reports cited by Aktiencheck News. The vessels, which range from oil tankers to bulk carriers and container ships, have been unable to exit through the Strait of Hormuz, which remains contested despite periodic ceasefires. The ongoing maritime blockade represents one of the most significant disruptions to global shipping since the Red Sea crisis of 2024, with the number of trapped vessels plateauing rather than declining as diplomatic efforts have failed to create a reliable release mechanism.

The financial impact on global trade operates through multiple channels. Oil supply that would normally transit through Hormuz has been rerouted or deferred, contributing to elevated crude oil prices and incentivising accelerated production from non-Gulf suppliers. Shipping companies with vessels trapped in the Gulf are absorbing substantial ongoing costs including crew salaries, provisions and insurance premiums without generating any revenue from the stuck tonnage. The global tanker market has tightened as a result, benefiting owners of vessels operating outside the conflict zone through higher charter rates driven by the effective removal of significant capacity from the active fleet.

For commodity traders and importers dependent on Gulf exports including petrochemicals, aluminium and fertilisers, the stranding has created sustained supply uncertainty that has been managed through alternative sourcing at higher cost. The humanitarian dimension is equally pressing, with international seafarer organisations calling for urgent diplomatic intervention to allow crew rotation and medical evacuations. German maritime and logistics companies with exposure to Gulf trade, including through insurance underwriting and freight forwarding, have been absorbing the commercial and operational consequences of the impasse since February. A diplomatic breakthrough that allowed even partial vessel release would be a positive catalyst for shipping sector valuations globally.

Synthesized from 2 sources.