Shipping war risk insurance premiums are likely to continue rising: Analyst

Daejin Lee of Fertmax says that the cost of war insurance coverage for ships in the Gulf region is at "unprecedented levels" given the threats in the Strait of Hormuz and additional premiums for ships going through the areas of Oman and the Red Sea. He also says that potential U.S. Navy escorts for vessels through the Strait of Hormuz would only benefit outbound vessels and not inbound vessels as it doesn't solve the core of the issue.