Pipp: With the attack on the tanker, the cost of shipping insurance in the Strait of Hormuz has increased dramatically

On 23 July, the Generalized Global Energy Report stated that the cost of shipping insurance in the Strait of Hormuz had increased dramatically as a result of the new attack on the tanker, which had led to an increased reluctance of insurers to provide insurance. Additional war risk insurance premiums have risen from 1 to 3 per cent of the value of ships ' hulls to 7.5 to 10 per cent over a few weeks ago, while some tanker operators remain outside the Strait and are reluctant to venture. According to the Standard, commercial activity also remains limited, with 10 vessels passing through the Strait of Hormuz on Tuesday, compared with more than 130 traffic per day prior to the outbreak of the Middle East war。