{"id":106213,"date":"2026-02-28T20:13:20","date_gmt":"2026-02-28T23:13:20","guid":{"rendered":"https:\/\/shipping.einnews.com\/article\/896525419"},"modified":"2026-02-28T20:13:20","modified_gmt":"2026-02-28T23:13:20","slug":"gulf-shipping-insurance-costs-surge-up-to-50-amid-rising-risks-in-strait-of-hormuz","status":"publish","type":"post","link":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/2026\/02\/28\/gulf-shipping-insurance-costs-surge-up-to-50-amid-rising-risks-in-strait-of-hormuz\/","title":{"rendered":"Gulf Shipping Insurance Costs Surge Up to 50% amid Rising Risks in Strait of Hormuz"},"content":{"rendered":"
<\/p>\n
\n

<\/i> Sun 01 Mar 2026 | 12:02 AM<\/span> <\/p>\n<\/p><\/div>\n<\/p><\/div>\n

\n
Taarek Refaat<\/span><\/a> <\/div>\n

Marine insurance companies have raised coverage prices for ships transiting the Gulf and the Strait of Hormuz by as much as 50% following escalating military tensions after strikes by the United States and Israel on Iran.<\/p>\n

Insurance brokers told the Financial Times that some insurers issued rare cancellation notices ahead of the weekend trading session, a move seen as a prelude to repricing policies at significantly higher rates in the coming days.<\/p>\n

Baseline war-risk insurance costs for vessels sailing through the Gulf were previously around 0.25% of a ship\u2019s replacement value, according to Dylan Mortimer, who oversees hull and war-risk insurance at brokerage Marsh McLennan.<\/p>\n

Those premiums could climb by about half as insurers factor in the possibility of further regional escalation.<\/p>\n

Insurance costs for ships heading to Israeli ports, which stood near 0.1% of vessel value before the latest strikes, may also rise by up to 50%.<\/p>\n

The insurance market is particularly concerned about the possibility that Iran or its regional proxies could attempt to restrict navigation through the Strait of Hormuz, through which roughly 20% of the world\u2019s seaborne crude oil flows.<\/p>\n

The United Kingdom Maritime Trade Operations reported multiple vessel alerts in the Gulf, while European naval mission EUNAVFOR Aspides said ships had received high-frequency broadcasts purportedly from Iran\u2019s Revolutionary Guard warning that no vessel was permitted to cross the strait.<\/p>\n

Some global oil and gas tankers have already paused or rerouted voyages through the waterway amid security concerns.<\/p>\n

At least three vessels altered their routes on Saturday while awaiting further security assessments, according to maritime intelligence consultancy EOS Risk Group.<\/p>\n

Shipping companies are increasingly exploring alternative routes to avoid the narrow chokepoint, reflecting growing anxiety over potential attacks, boarding attempts, or vessel detentions in the region.<\/p>\n

The Strait of Hormuz remains one of the world\u2019s most strategically sensitive energy corridors, and any prolonged disruption could significantly affect global shipping, insurance markets and oil prices.<\/p>\n

\n
\"ads\" <\/a> <\/div>\n<\/p><\/div>\n

<!– PA Ad Tag – see.news_ros_728x90 <\/div>\n

<\/a><\/strong> <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

… intelligence consultancy EOS Risk Group. Shipping<\/span> companies are increasingly exploring alternative … disruption could significantly affect global shipping<\/span>, insurance markets and oil prices …<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[],"class_list":["post-106213","post","type-post","status-publish","format-standard","hentry","category-news","wpcat-1-id"],"_links":{"self":[{"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/posts\/106213","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/comments?post=106213"}],"version-history":[{"count":0,"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/posts\/106213\/revisions"}],"wp:attachment":[{"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/media?parent=106213"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/categories?post=106213"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/tags?post=106213"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}