{"id":107342,"date":"2026-03-01T14:30:48","date_gmt":"2026-03-01T17:30:48","guid":{"rendered":"https:\/\/shipping.einnews.com\/article\/896667376"},"modified":"2026-03-01T14:30:48","modified_gmt":"2026-03-01T17:30:48","slug":"cargo-ship-insurers-cancel-war-risk-policies-for-vessels-in-persian-gulf-and-strait-of-hormuz-expected-to-raise-premiums-by-up-to-50","status":"publish","type":"post","link":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/2026\/03\/01\/cargo-ship-insurers-cancel-war-risk-policies-for-vessels-in-persian-gulf-and-strait-of-hormuz-expected-to-raise-premiums-by-up-to-50\/","title":{"rendered":"Cargo Ship Insurers Cancel War Risk Policies for Vessels in Persian Gulf and Strait of Hormuz, Expected To Raise Premiums by Up to 50%"},"content":{"rendered":"
\"Silhouettes
Ships in the Persian Gulf \u2013 Wiki Commons<\/figcaption><\/figure>\n

The \u2018war risk\u2019 for cargo ships in the Middle East has escalated considerably.<\/strong><\/p>\n

With the ongoing military conflict between the US, Israel and Iran, commercial shipping in the conflict area has become a much more dangerous affair.<\/p>\n

Now, news has arisen that insurers are telling ship owners that they will cancel policies and raise coverage prices for vessels travelling through the Persian Gulf and Strait of Hormuz.<\/p>\n

\n

JUST IN \u2013 Iranian state media confirms that Iran struck an oil tanker in the Gulf of Oman because \u201cit intended to pass through the Strait of Hormuz despite warnings\u201d and says \u201call 20 crew members were evacuated.\u201dpic.twitter.com\/axpKK2hG0B<\/a><\/p>\n

\u2014 Disclose.tv (@disclosetv) March 1, 2026<\/a><\/p>\n<\/blockquote>\n

Financial Times<\/a> reported:<\/p>\n

\u201cWar risk insurers on Saturday submitted cancellation notices for policies covering ships moving through the key oil chokepoint, brokers told the FT, with prices set to rise as much as 50 per cent in the coming days.<\/em><\/p>\n

The unusual move to submit these notices before trading resumes on Monday underscores the pace of escalation after Iran launched retaliatory strikes against US bases across the Middle East.\u201d<\/em><\/p>\n

\n

Strait of Hormuz \u2014 Welp! \ud83d\ude33 When the biggest shipper in the world announces full suspension, expect insurance premium to rise sharply.https:\/\/t.co\/dOlE8NCOjo<\/a> pic.twitter.com\/I5Pxv2jw2E<\/a><\/p>\n

\u2014 JaguarAnalytics (@JaguarAnalytics) March 1, 2026<\/a><\/p>\n<\/blockquote>\n

\"Oil
Insurance costs for shipping in the region are expected to surge.<\/figcaption><\/figure>\n

Insurance prices could rise by 50%.<\/p>\n

\u201cFor a $100mn vessel, this would mean an increase from $250,000 to $375,000 per voyage.<\/em><\/p>\n

[\u2026] Cargo war risk insurers \u2014 which cover commodities carried on tankers, such as grain and oil \u2014 also said that they were preparing to cancel policies on Monday.\u201d<\/em><\/p>\n

Many ship owners are turning away from the Strait of Hormuz, a shipping lane through which about a fifth of the world\u2019s crude oil flows.<\/p>\n

\n

To everyone wondering why ships are holding up outside the Strait of #Hormuz<\/a> right now, the reason is WAR RISK INSURANCE!<\/p>\n

Right now, every major Protection and Indemnity (P&I) Club is notifying their clients of the need for additional protection (AP).<\/p>\n

You see, the shipping\u2026 https:\/\/t.co\/9KRIU3lBcL<\/a> pic.twitter.com\/yJJwVgOFZb<\/a><\/p>\n

\u2014 Sal Mercogliano (WGOW Shipping) \ud83d\udea2\u2693\ud83d\udc2a\ud83d\ude92\ud83c\udff4\u200d\u2620\ufe0f (@mercoglianos) February 28, 2026<\/a><\/p>\n<\/blockquote>\n

Read more:<\/strong><\/p>\n

\n

Iran\u2019s IRGC Reportedly Warning Ships that Passage Through the Strait of Hormuz Is \u2018Not Allowed\u2019<\/a><\/p>\n<\/blockquote>\n

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

… The \u00e2\u0080\u0098war risk\u00e2\u0080\u0099 for cargo<\/span> ships in the Middle … Israel and Iran, commercial shipping<\/span> in the conflict area … 375,000 per voyage. [\u00e2\u0080\u00a6] Cargo<\/span> war risk insurers \u00e2\u0080\u0094 which cover … 47;yJJwVgOFZb \u00e2\u0080\u0094 Sal Mercogliano (WGOW Shipping<\/span>) \u00f0\u009f\u009a\u00a2\u00e2\u009a\u0093\u00f0\u009f\u0090\u00aa\u00f0\u009f\u009a\u0092\u00f0\u009f\u008f\u00b4\u00e2\u0080\u008d\u00e2\u0098\u00a0\u00ef\u00b8\u008f (@mercoglianos) February 28, 2026 …<\/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-107342","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\/107342","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=107342"}],"version-history":[{"count":0,"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/posts\/107342\/revisions"}],"wp:attachment":[{"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/media?parent=107342"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/categories?post=107342"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/tags?post=107342"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}