A Cyprus-registered container vessel, the M/V GFS Galaxy, was struck by Iranian forces while transiting the Strait of Hormuz in the early hours of 12 July, according to US Central Command. The attack, which occurred amid a new round of US air-strikes on Iranian military sites, left the ship on fire and with major engine-room damage; one Indian crew member is missing, and the rest of the multinational crew has been evacuated to a nearby Gulf port. The Cypriot Shipping Deputy Ministry said it is in direct contact with the vessel’s Limassol-based management company and is “taking all appropriate actions,” including providing casualty assistance and coordinating with international naval task forces patrolling the strait. Although no Cypriot nationals were on board, the incident highlights the elevated risk to Cyprus-flagged tonnage operating in one of the world’s busiest—and most politically volatile—energy chokepoints. Cyprus controls the EU’s third-largest fleet by dead-weight tonnage, and many owners have rerouted or slowed Gulf sailings in response to the escalating US–Iran confrontation. War-risk premiums for voyages through the Hormuz corridor jumped by an estimated 25 % overnight, brokers told the Cyprus Shipping Association, adding tens of thousands of dollars to a single east-bound leg. Logistics managers for Cypriot exporters—from citrus growers to pharmaceuticals traders—are already scrambling for alternative schedules via Egypt’s Suez Canal or Turkey’s Ceyhan port. However, both options add days to transit times and increase bunker costs. Maritime security consultants are advising ship operators to review flag-state guidance, activate UKMTO reporting procedures, and consider embarked guards where insurance allows. The Shipping Deputy Ministry is expected to convene an emergency briefing with industry stakeholders in Limassol early this week.
Source: Cyprus Mail
