{"id":489,"date":"2026-03-03T12:38:22","date_gmt":"2026-03-03T12:38:22","guid":{"rendered":"https:\/\/www.europesays.com\/iran\/489\/"},"modified":"2026-03-03T12:38:22","modified_gmt":"2026-03-03T12:38:22","slug":"hormuz-tensions-heighten-risks-for-shipping-companies-as-vessels-stranded-in-persian-gulf-without-insurance-cover","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/iran\/489\/","title":{"rendered":"Hormuz tensions heighten risks for shipping companies as vessels stranded in Persian Gulf without insurance cover"},"content":{"rendered":"<p>The Strait of Hormuz, situated between Iran and Oman, is widely considered the world\u2019s most vital oil transit route. It links major Gulf producers, including Saudi Arabia, Iraq, and the UAE, to international markets through the Gulf of Oman and the Arabian Sea. Nearly one-fifth of global daily oil consumption flows through the narrow channel, which is approximately 33 kilometres wide at its narrowest point.\u00a0\u00a0<\/p>\n<p>It handles\u00a0nearly 20%\u00a0of global daily oil consumption,\u00a0Balasundaram said the larger threat lies elsewhere.\u00a0\u201cThe bigger risk is the floating storage,\u201d he said, referring to the hundreds of oil-laden tankers anchored across the Persian Gulf.\u00a0<\/p>\n<p>Missile exchanges between Iran and Gulf nations, along with drone activity, have heightened the danger. Even debris from intercepted missiles could strike vessels, potentially causing catastrophic damage.\u00a0\u201cIf such an incident occurs, there may be no cover available today,\u201d he warned.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"The Strait of Hormuz, situated between Iran and Oman, is widely considered the world\u2019s most vital oil transit&hellip;\n","protected":false},"author":2,"featured_media":490,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[26],"tags":[264,526,266,518,522,342,525,49,523,39,524,520,101,521,519],"class_list":{"0":"post-489","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-persian-gulf","8":"tag-energy-security","9":"tag-floating-storage","10":"tag-global-economy","11":"tag-hormuz-tensions","12":"tag-insurance-cover","13":"tag-iran-conflict","14":"tag-marine-insurance","15":"tag-middle-east","16":"tag-oil-transit","17":"tag-persian-gulf","18":"tag-shipping-disruption","19":"tag-shipping-risks","20":"tag-strait-of-hormuz","21":"tag-vessel-stranded","22":"tag-war-risk-insurance"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@iran\/116165286745891647","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/posts\/489","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/comments?post=489"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/posts\/489\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/media\/490"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/media?parent=489"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/categories?post=489"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/tags?post=489"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}