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Story summary
- About 100 of 750 vessels in the Strait of Hormuz are stuck amid U.S. and Israeli attacks on Iran, says Jeremy Nixon, CEO of Ocean Network Express.
- Nixon says roughly 10% of the global container ship fleet is affected.
- Maritime insurers have stopped covering voyages through the Strait of Hormuz.
- Nixon warned that a prolonged Strait closure could push energy prices higher as shipping bookings to the Middle East fall.
