1. Strategic Routes Under Threat
The US-Iran clashes have led to new attacks on vessels in the Strait of Hormuz, one of the world's key energy corridors. According to the UN, several commercial ships have been hit, causing a sharp rise in tensions and a threat to seafarer safety.
Hormuz is a critical chokepoint: up to 20 million barrels of oil and over 20% of global LNG pass through it. After the escalation, transit fell by 94%, and port calls in the region dropped by 47%.
2. Rising Likelihood of Direct Attacks
Iran has already struck commercial vessels, resulting in seafarer deaths and mass delays. Ships are forced to reroute, including around Africa, adding 10–14 days to voyages and sharply increasing costs.
3. Risks for Crews and Companies
The UN warns: "No seafarer should risk their life simply doing their job," urging shipowners to avoid dangerous zones and minimize threats to personnel.
Economic Consequences
Due to attacks and infrastructure closures, Brent rose to $119 per barrel, and the average US gasoline price climbed to $4 per gallon.
2. Supply Disruptions and Chain Breakdowns
QatarEnergy declared force majeure on all LNG deliveries.
Iraq suspended operations at oil fields.
Kuwait and Qatar faced infrastructure strikes.
This creates a domino effect: delays, congested ports, container shortages, rising freight and insurance premiums.
3. Long-Term Market Instability
UN economists expect prolonged price volatility and supply disruptions in the coming months, even if the situation stabilizes quickly.
Why Marine Insurance Is Becoming Critical
Key Benefits of Marine Insurance
- Risk management – coverage for natural, combat, operational, and human risks.
- Financial protection – compensation for vessel damage, cargo loss, delays, and force majeure.
- Cost stability – predictable insurance payments allow budget planning even during war.
- Protection against piracy and attacks – especially relevant amid threats in Hormuz, the Red Sea, and the Persian Gulf.
- Compliance with international norms – many charters and contracts require mandatory insurance (Hull, P&I, Cargo).
- Business continuity support – insurance prevents cash flow gaps and bankruptcies from major losses.
- Increased client and partner trust – insurance coverage enhances a company's reputation in international trade.
The renewal of US-Iran hostilities creates unprecedented risks for global shipping, from direct attacks to the disruption of energy chains. In this context, marine insurance is becoming a key tool for business protection, ensuring financial stability, contract fulfillment, and operational risk reduction.