'Borkum III' was a U-boat wolfpack operation by part of the 'Borkum' wolfpack to the west of the Iberian peninsula (3/13 January 1944).

The wolfpack comprised U-231, U-377 and U-953, and for the loss of Kapitänleutnant Wolfgang Wenzel’s U-231 to a depth charge attack by a Vickers Wellington twin-engined anti-submarine aeroplane of the RAF’s No. 172 Squadron sank no ship.