Q3 marked the most dangerous quarter for global shipping in recent history. Iran doubled and focused its attacks on ships using the U.S.-backed Hormuz southern corridor, the Russia-Ukraine war put any ship trading with either country at risk, and the dark fleet moved under Russia’s flag in record numbers. Windward’s MIOC analysts break down the data behind these shifts and what they mean for anyone operating, insuring, or securing ships heading into Q4.
Inside the report:
Iranian attacks on ships in the Middle East Gulf doubled to 45, with tankers making up 87% of targets.
52% of September’s Hormuz transits were dark convoy passages.
Russia and Ukraine attacked about 86 commercial ships in the Black Sea, nearly four times the first half of 2026.
At least 12 conflict-related oil slicks in 12 weeks threatened Gulf desalination plants.
Red Sea tanker transits fell 26% after the Houthi blockade declaration.
84 dark fleet tankers reflagged to Russia, more than four times the Q2 figure.
Pirate hijacking attempts off Somalia and in the Gulf of Aden reached 5, five times the level of Q3 2024 and 2025.
