● CONTAINERSHIP SINKS NEAR HORMUZ AS TRAFFIC COLLAPSES

A Singapore-flagged containership, the GFS Pride, sank in the Strait of Hormuz on October 13 after being struck, with all 21 crew members evacuated safely. A second vessel, the GFS Giselle, was hit the following day and reached safe anchorage with hull damage. Daily transits through the strait have crashed to roughly 29 vessels, down from about 138 before the conflict escalated. Oil markets tracked via $USO are pricing in a supply route that barely functions.