Eight crew members were wounded in the attack, the largest number of seafarer injuries reported in a single incident since the conflict began . Two of the injured seafarers, both Filipino nationals, were later repatriated home . The crew were evacuated from the vessel after the strike for medical care .

US officials, citing American intelligence, indicated the weapon used was likely a cruise missile . The vessel had turned off its AIS transponder before commencing the transit through the strait, a common security measure in high-risk zones .

Likely Fate of the Vessel: Scrapping

As of July 2026, CMA CGM is leaning toward scrapping the San Antonio. Saadé told a business conference in southern France that the damage appears beyond economical repair for a vessel of its size and age . A final decision has not been formally announced, but scrapping is described as the likely outcome .

Broader Implications: Insurance, Security, and Trade

The attack on the San Antonio did not occur in isolation. It is a focal point in a much larger crisis that has fundamentally altered the risk calculus for the Strait of Hormuz, through which roughly 20% of global oil supplies pass daily .

Insurance costs have skyrocketed. War risk premiums for a single transit have surged from roughly 0.001% of vessel value before the crisis to as much as 4% for a seven-day policy—a 4,000-fold increase . This has made the Strait of Hormuz the most expensive waterway in the world to insure . Major maritime insurers, including P&I clubs like Gard, Skuld, and NorthStandard, canceled war risk coverage for the Gulf in early March 2026, forcing governments to step in as insurers of last resort . By late June, insurance exposures in the region had reached approximately $352 billion, prompting international intervention with more than $40 billion in additional capacity .

The US-led security corridor was paused. The attack on the San Antonio came just two days after the launch of "Project Freedom," a US-led maritime security corridor intended to provide a security umbrella for merchant ships transiting the strait . Shortly after the missile strike, President Donald Trump announced a temporary "pause" of the program, raising questions about the viability of escorted transits under active threat .

Rerouting and trade disruption. The cumulative effect of missile strikes, mine threats, naval deployments, and prohibitive insurance costs has drastically reduced commercial traffic through the strait . Ships are increasingly diverting around the Cape of Good Hope or seeking alternative routes, adding weeks of transit time and an estimated $2–3 million in extra voyage costs for a standard 8,000 TEU container ship .

Global economic impact. The crisis has turned the Strait of Hormuz from a critical trade artery into a major financial pressure point. A complete closure of the strait, removing close to 20% of global oil supplies from the market, could raise the average West Texas Intermediate (WTI) oil price to $98 per barrel and lower global real GDP growth by an annualized 2.9 percentage points in the second quarter of 2026, according to a model from the Federal Reserve Bank of Dallas . War risk alone is estimated to be adding tens of billions of dollars in annual costs to global trade .

Eight crew members were wounded in the attack, the largest number of seafarer injuries reported in a single incident since the conflict began . Two of the injured seafarers, both Filipino nationals, were later repatriated home . The crew were evacuated from the vessel after the strike for medical care .

US officials, citing American intelligence, indicated the weapon used was likely a cruise missile . The vessel had turned off its AIS transponder before commencing the transit through the strait, a common security measure in high-risk zones .

Likely Fate of the Vessel: Scrapping

As of July 2026, CMA CGM is leaning toward scrapping the San Antonio. Saadé told a business conference in southern France that the damage appears beyond economical repair for a vessel of its size and age . A final decision has not been formally announced, but scrapping is described as the likely outcome .

Broader Implications: Insurance, Security, and Trade

The attack on the San Antonio did not occur in isolation. It is a focal point in a much larger crisis that has fundamentally altered the risk calculus for the Strait of Hormuz, through which roughly 20% of global oil supplies pass daily .

Insurance costs have skyrocketed. War risk premiums for a single transit have surged from roughly 0.001% of vessel value before the crisis to as much as 4% for a seven-day policy—a 4,000-fold increase . This has made the Strait of Hormuz the most expensive waterway in the world to insure . Major maritime insurers, including P&I clubs like Gard, Skuld, and NorthStandard, canceled war risk coverage for the Gulf in early March 2026, forcing governments to step in as insurers of last resort . By late June, insurance exposures in the region had reached approximately $352 billion, prompting international intervention with more than $40 billion in additional capacity .

The US-led security corridor was paused. The attack on the San Antonio came just two days after the launch of "Project Freedom," a US-led maritime security corridor intended to provide a security umbrella for merchant ships transiting the strait . Shortly after the missile strike, President Donald Trump announced a temporary "pause" of the program, raising questions about the viability of escorted transits under active threat .

Rerouting and trade disruption. The cumulative effect of missile strikes, mine threats, naval deployments, and prohibitive insurance costs has drastically reduced commercial traffic through the strait . Ships are increasingly diverting around the Cape of Good Hope or seeking alternative routes, adding weeks of transit time and an estimated $2–3 million in extra voyage costs for a standard 8,000 TEU container ship .

Global economic impact. The crisis has turned the Strait of Hormuz from a critical trade artery into a major financial pressure point. A complete closure of the strait, removing close to 20% of global oil supplies from the market, could raise the average West Texas Intermediate (WTI) oil price to $98 per barrel and lower global real GDP growth by an annualized 2.9 percentage points in the second quarter of 2026, according to a model from the Federal Reserve Bank of Dallas . War risk alone is estimated to be adding tens of billions of dollars in annual costs to global trade .