🚨 S&P Global Energy: Tanker attacks have sharply reduced insurers' willingness to cover ships passing through the Strait of Hormuz.
• War-risk insurance premiums have surged from 1–3% a few weeks ago to 7.5–10% of a vessel's hull value.
• Some oil tankers are avoiding the Strait of Hormuz due to rising security risks.
• Commercial traffic has dropped sharply, with only 10 ships transiting on Tuesday versus 130+ ships per day before the Middle East conflict escalated.
• War-risk insurance premiums have surged from 1–3% a few weeks ago to 7.5–10% of a vessel's hull value.
• Some oil tankers are avoiding the Strait of Hormuz due to rising security risks.
• Commercial traffic has dropped sharply, with only 10 ships transiting on Tuesday versus 130+ ships per day before the Middle East conflict escalated.