Hormuz attacks lift risks for global shipping

Two commercial ships sank near the Strait of Hormuz after separate projectile attacks on 14 Oct 2026, according to maritime officials cited by India Gazette. The incidents followed a reported increase in attacks around the waterway over the preceding 10 days, raising concerns about the safety of commercial traffic amid escalating tensions between Iran and the United States. 🚢

The Singapore-flagged GFS Pride, a container ship with capacity for 2,824 standard containers, caught fire after being damaged while transiting the strait on 13 Oct. Singapore’s Maritime and Port Authority said all 21 crew members were safely evacuated and that no injuries were reported. The article also referred to a separate incident involving an Antigua and Barbuda-flagged vessel, although the available excerpt did not provide further details.

Two ships sunk in separate incidents increase the immediate risk premium around maritime insurance, vessel routing and delivery schedules. For energy markets, prolonged disruption around the strait can affect the movement of crude and refined products, while shipping operators face higher security and operating costs. The developments remain a geopolitical risk rather than a confirmed earnings event for Indian-listed companies.

OI Charts data showed a cautious derivatives setup in energy-linked names on 16 Oct. ONGC closed at ₹222, down 1.2% on the day, while its futures open interest rose 2.5% in a short build-up. Its put-call ratio stood at 0.47, with the largest call open interest at ₹225 and the largest put open interest at ₹220 for the 27 Oct expiry. The stock was down 4.5% over 20 sessions and remained close to its 52-week low of ₹218.53 recorded on 8 Oct.

Reliance closed at ₹1,211, down 0.3%, with futures open interest up 1.9% in a short build-up. Its put-call ratio was 0.61; the largest call open interest was at ₹1,250 and the largest put open interest at ₹1,160 for the same expiry. The stock had gained 3.5% over five sessions but remained down 2.6% over 20 sessions.

Traders will watch for further incidents, any change in naval or port restrictions, official responses from Iran and the United States, and evidence of delays or rerouting in commercial shipping. The ₹225 and ₹220 option walls for ONGC, and ₹1,250 and ₹1,160 for Reliance, are the key OI Charts levels for the 27 Oct expiry.

Source: India Gazette, 17 Oct 2026

Not investment advice. For informational purposes only.