Hormuz war risk premiums surpass 10%

Renewed US-Iran hostilities and Houthi attacks are driving insurers to reassess Middle East Gulf exposure, with a growing number now reluctant to cover Saudi-linked vessels

QUOTES for Strait of Hormuz war risk cover are now back up in the 7.5% to 10% of hull value range, and have sometimes gone even higher, although few shipowners seem to be buying policies at that level, according to market sources.