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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WAR RISK PREMIUMS
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
Hormuz on hold: Freight markets reprice risk as geopolitics tightens the Strait
Freight markets turned sharply cautious in the week that closed on 27 February 2026, as escalating tensions and the closure of the Strait of Hormuz forced a reassessment of risk, routing and pricing across global dry bulk trades