War Risk Premiums Hit 1% of Hull Value—Making Hormuz Transits Economically Impossible

Insurance Market Imposes De Facto Commercial Blockade

War risk insurance premiums for vessels transiting the Strait of Hormuz have surged from approximately 0.2 percent to a staggering 1.0 percent of hull value in just 48 hours, a five-fold increase that has rendered commercial transit through the world's most critical oil chokepoint economically impossi…