More attacks at Hormuz

The state of alarm continued last night, with the Defense Ministry dealing withanother missile threat. Authorities advised people to stay in a safe place and follow official updates as defense systems worked on interception efforts. Around an hour later, an ‘all-clear’ message confirmed it was safe to resume normal operations.

Along with the disruption to daily life — and most recently to work in financial sectors — the UAEs’ aviation and trade sectors are continuing to be rattled by the war:

Further from home: A drone has hit fuel tanks in Oman’s Salalah Port, where operations at the container and general cargo terminals have been halted, according to the Oman News Agency.

Airspace disruptions continue

Operations at DXB were halted temporarily yesterday morning after a close call with drones. Two drones fell near Dubai International Airport (DXB), injuring four people, though traffic resumed “operating as normal,” according to a statement on X. The airport had also temporarily suspended operations this weekend after falling debris from intercepted missiles disrupted operations.

Over in Abu Dhabi, authorities put out a fire that broke out at the emirate’s old airport after air defense systems carried out a successful interception, according to a post on X.

Hormuz attacks also paint a bleak picture for regional trade

Hopes for a safeguarded return to Hormuz were also crushed following fresh attacks: Three vessels sustained damage yesterday morning off the UAE and Omani coastline from a “suspected but unknown projectile,” the UKMTO said.

Two of the three were hit off the coast of the UAE. The first vessel — Thailand-flagged — was hit some 25 meters northwest of Ras Al Khaimah, while the second was hit around 50 meters northwest of Dubai. Investigations are currently underway to assess the extent of the damage to both ships, but all crew members are safe. The third — a Japanese container ship — was hit some 11 meters north of Oman.

Trade flows haven’t stopped entirely — Iran is still reportedly going ahead with its oil exports to China and India, with “at least nine sanctioned tankers operating in or around the Strait of Hormuz in the past 24hrs,” maritime risk analyst Martin Kelly said on LinkedIn.

Why this matters: These incidents are part of a surge in regional maritime hostilities following US and Israeli strikes on Iran last week. With hundreds of ships now anchored in Hormuz, the disruption to Middle East oil exports has moved from a temporary shock to a structural paralysis. Saudi Aramco has already warned of “catastrophic consequences” for global markets if this issue remains unresolved.

Are there any workarounds?

Adnoc has instructed its onshore partners to collect their Murban crude from the Port of Jebel Dhanna, located inside the Arabian Gulf just behind Hormuz. At least two of the six equity holders of Adnoc’s onshore output were told that their March supply must be picked up from this terminal.

The move comes as some shipowners are increasingly avoiding Fujairah — the UAE's primary export hub outside the Strait of Hormuz — due to reported missile threats. The shipowners now avoiding Fujairah have canceled their shipments — a move that should allow producers to resell and mark up the cargoes. However, Fujairah is one of the few terminals still exporting in the region.

The disruption is spreading beyond oil: Both DP World and AD Ports enacted temporary contingency arrangements to allow customers to reroute import containers from Khorfakkan and Fujairah ports to Dubai’s Jebel Ali via bonded road transit earlier this week.

A forced reversal of strategy? The UAE spent years building infrastructure to bypass the Strait of Hormuz, but now missile threats at Fujairah are forcing volumes back inside the waterway. While this move allows Adnoc to potentially resell canceled cargoes at higher prices, it adds a layer of complexity for equity holders who now must navigate vessels through a high-risk zone to reach Jebel Dhanna.

The move to Jebel Dhanna will be a litmus test for shipowner appetite. We will be looking at whether tankers are actually willing to move past the strait to reach the new pickup point, or if this simply results in further stranded volumes.