A bulk carrier carrying steel billets from India to the UAE partially sank in the Strait of Hormuz after suffering structural failure, raising concerns over cargo recovery and regional shipping amid heightened geopolitical tensions, according to the several news reports.
The St. Kitts and Nevis-flagged vessel Luni, owned by a Turkish company, was enroute from Kandla Port, India, to Jebel Ali, UAE, when it broke into two near Bandar Abbas, Iran, after reportedly sustaining structural damage following a collision with another commercial vessel several days earlier.
All 23 crew members were safely rescued by Iranian search and rescue authorities.
The vessel was carrying approximately 43,000 tons of cargo, including billets, copper and industrial equipment.
The vessel remains partially submerged in shallow waters near Bandar Abbas. Market insiders said recovering the cargo could prove difficult, particularly as security measures have been tightened and vessel movements in the Strait of Hormuz have faced disruptions following renewed geopolitical tensions in the region.