India flagged cargo vessel sinks in the Red Sea after projectile strike, 13 Indian seafarers rescued

Oilprice reported on Wednesday 5 August 2026 that an India flagged commercial vessel, the MSV Faize Noore Oliya, sank in the Red Sea off the coast of Yemen on Tuesday 4 August 2026. According to reports the vessel was carrying Saudi oil.

India's Ministry of External Affairs condemned the attack on the vessel on Tuesday. Sarbananda Sonowal, India's Minister of Ports, Shipping and Waterways, said the vessel had been hit by a projectile near Yemeni waters. All seafarers on board, including 13 Indian nationals, were rescued.

Coming alongside the disruption at the Strait of Hormuz, the incident adds to the pressure on maritime oil transit routes in West Asia, a factor that feeds into insurance costs, freight rates and ultimately global oil prices.