Strait of Hormuz in limbo as tankers seize every opening: Lloyd's List

• Tanker traffic through the Strait of Hormuz is at a near standstill, with only two tankers transiting in the early hours of Thursday.
• Shipping risks have escalated due to multiple strikes, leading some companies to pause connections and causing war risk insurance rates to skyrocket.
• A 'bifurcation of global trade' is emerging, with some ships using Iran-approved northern routes (often via government-to-government agreements) while the southern route faces higher aggression risks.

Tanker traffic in the Strait of Hormuz has slowed to a near standstill following recent attacks, escalating shipping risks and causing war risk insurance premiums to skyrocket. Shipping companies are navigating a geopolitically conditioned environment, with some opting for Iran-approved routes, while the industry remains in a state of limbo with traffic volumes well below normal.