The Iran deal will not move tankers. It will move war risk premiums
A diplomatic text will not move a single tanker through the Strait of Hormuz. But it can move the war risk premiums that decide whether any tanker can afford to try
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CAPE OF GOOD HOPE
Fleets change routes, insurers cut cover and war risk premiums surge
Shipping companies, insurers and energy traders are already changing operational behaviour as Middle East tensions disrupt routes, tighten insurance conditions and increase costs across the global maritime system, particularly around the Strait of Hormuz and the Red Sea
Cape of Good Hope: the detour that became a doctrine
Three years after Houthi missiles drove the world’s container fleets southward, the Cape of Good Hope has graduated from emergency detour to default corridor. Brussels has yet to grasp the consequences
From Hormuz to Lamu: the fragile rise of African ports
A car carrier unloads 469 vehicles at Lamu, a port that barely functioned a year ago. The Iran war has placed African ports at the centre of a reshuffled global trade map