From CNBC · Spencer Kimball · · 1m 20s
Container ship sinks in Strait of Hormuz as Iran escalates attacks
The GFS Pride sank after being struck by an unidentified projectile as Iran intensifies strikes on commercial vessels transiting one of the world's most critical shipping routes.
In brief
The GFS Pride sank after being struck by an unidentified projectile as Iran intensifies strikes on commercial vessels transiting one of the world's most critical shipping routes. Container ship GFS Pride sank in the Strait of Hormuz after being struck by an unidentified projectile, part of Iran's escalating campaign…
Container ship sinks in Hormuz
The GFS Pride, registered in Singapore, sank Wednesday after being struck by an unidentified projectile and catching fire in the Strait of Hormuz.
Crew safely evacuated
The ship's twenty-one crew members were safely evacuated with no injuries reported, according to the Maritime and Port Authority of Singapore.
Iran disputes cause of sinking
Iran's Revolutionary Guard claimed the ship exploded after hitting a naval mine, but maritime security firm Marisks says there is no independent evidence to confirm this.
Escalating attacks on shipping
More than twenty vessels, mostly oil tankers, have come under attack this month in Hormuz, the Persian Gulf and Gulf of Oman, leaving two sailors missing and twelve injured.
Oil exports plummet amid attacks
Crude oil exports through Hormuz averaged eight point five million barrels per day in the week ended October twelfth, nearly forty percent below normal levels before the Iran war.
The big picture
Container ship GFS Pride sank in the Strait of Hormuz after being struck by an unidentified projectile, part of Iran's escalating campaign against commercial shipping that has disrupted crude oil exports.
