Strait of Hormuz is effectively closed and vessels rerouted, sending some freight costs surging
Strait of Hormuz is effectively closed and vessels rerouted, sending some freight costs surging
US-Israel war on Iran – live updates
Leading maritime insurers have cancelled war risk cover for vessels operating in the Gulf as the escalating Iran conflict disrupted shipping and sent some freight costs surging.
At least 150 vessels including oil and liquefied natural gas tankers have dropped anchor in the strait of Hormuz and surrounding waters, and at least three tankers were damaged and one seafarer killed over the weekend.
Continue reading...Source: Guardian - World News
