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Gulf Conflict Halts 95% of Ship Traffic, Insurance Soars

3/30/2026

26 3 Full Breakdown

Summary

Story summary

The Gulf conflict around the Strait of Hormuz has caused ship traffic to plummet by 95% and insurance costs to rise.
Insurance premiums for crossing the Strait have surged to as much as 10% of a ship's value, up from under 1%.
The International Transport Workers' Federation has received over 1,000 distress messages.

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Story summary

The Gulf conflict around the Strait of Hormuz has caused ship traffic to plummet by 95% and insurance costs to rise.
Insurance premiums for crossing the Strait have surged to as much as 10% of a ship's value, up from under 1%.
The International Transport Workers' Federation has received over 1,000 distress messages.