Rising Ship Attacks In Gulf Deter Crew Recruitment, Pushing Shipping Costs To New Highs

Attacks on commercial ships that have claimed the lives of seafarers are impacting recruitment and increasing the cost for shipping companies, said SV Anchan, chairman of New Jersey-based Safesea Shipping.

The company’s oil tanker Safesea Vishnu was attacked in Iraqi waters in March, in which an Indian Seafarer was killed.

Now, India has directed shipping companies, operators and recruitment agencies to halt deployment of Indian seafarers on ships destined to the Gulf due to recent U.S-Iran escalation and ship attacks.

“We are already feeling it,” Anchan said when he was asked whether rising risks to life were discouraging people from joining the shipping industry.

India’s Ministry of External Affairs has lodged a protest with Iran on the recent killing of an Indian Seafarer.

Anchan also added that the cost of protecting seafarers has increased due to higher insurance premiums.

He said that there is a separate cover for this environment, which owners need to get, and it comes at a very high cost as well.

Safesea had also bid for the Shipping Corporation of India, though its divestment is currently on hold.

Anchan also met PM Narendra Modi on May 30, 2026, during a recent visit to India.

He highlighted that the renewed attacks on shipping through the Strait of Hormuz had also impacted the market for buying and selling ships.

Uncertainty of the future has kept the industry at a standstill, where everyone is just waiting for things to settle and normalise before making major decisions.