Hormuz War-Risk Cover Climbs as Shipowners Pull Back

By Alex Longley and Leonard Kehnscherper (Bloomberg) —

London marine insurers have been seeing fewer inquiries for journeys to transit the Strait of Hormuz and some said the cost of cover had risen, in a sign of growing caution from shipowners as the US and Iran exchange attacks.

Two marine war insurance brokers and two underwriters said they have seen fewer requests for quotes since a ceasefire in the Middle East all but broke down this week. While the evidence is anecdotal so far, it points to a renewed caution in the industry.

So far on Thursday, visible shipping traffic through