Bombing has sent insurance premiums soaring. Insurers have already notified shipowners on February 28 to cancel existing policies and increase premiums in the Persian Gulf and Hormuz Strait area.
Brokers say that insurance premiums could rise by as much as 50% in the coming days!
The insurance rate for the Persian Gulf has always been 0.25% of the vessel's replacement cost; a $100 million vessel would cost $250,000 per voyage, and after a 50% increase, it would be $375,000 per voyage.
The insurance premium for vessels heading to Israeli ports was originally 0.1% of the vessel's replacement cost, but it may also see a significant increase of 50%, reaching 0.15%.
Insurers are most concerned about whether Iran will block the Hormuz Strait and are also worried about Iran's agents, such as the Houthi group, attempting to board or take control of merchant ships.
Industry professionals believe that if Israel and the United States continue to attack Iran, Iran may attempt to manipulate local shipping.
Insurance companies covering war risks for cargo have decided to cancel policies on the 2nd, and some shipowners have also instructed vessels to leave the Hormuz Strait.
If Iran blocks the Hormuz Strait, international oil prices could surge past $100 per barrel.
Original article: toutiao.com/article/1858411592492041/
Statement: This article represents the personal views of the author.