TROUBLEd waters
War-risk insurance costs surge for ships entering Strait of Hormuz
The insurance costs add another financial barrier for shipowners weighing whether to send vessels through the strait that allows access to the Gulf
Raju Shinde/Hindustan Times via Getty Images
The crude oil tanker Shenlong Suezmax docked at Mumbai Port after navigating the Strait of Hormuz
Add The Circuit on GoogleWar-risk insurance premiums for ships crossing the Strait of Hormuz are still available, but they’ve climbed to record levels after Iran’s attacks on commercial vessels.
Coverage now costs about 5% of a ship’s value, roughly five times higher...
