Latest news with #oiltankers
Yahoo
02-07-2025
- Yahoo
Sabotage suspected as mystery blasts hit oil tankers
A series of mysterious limpet mine attacks on oil tankers has shaken the shipping world, prompting speculation that the explosions were
Yahoo
18-06-2025
- Business
- Yahoo
War Premiums Explode: Oil Tankers Face 60% Surge to Cross World's Most Dangerous Waterway
Insurance costs are rising fast for oil tankers passing through the Strait of Hormuzone of the world's most critical energy chokepoints. According to Marsh McLennan, war risk premiums for hull and machinery insurance have jumped from 0.125% to roughly 0.2% of ship value since the Israel-Iran conflict escalated. For a $100 million vessel, that's a jump from $125,000 to $200,000. The higher price reflects rising concern among underwriters that a broader regional escalationor even a single high-profile incidentcould disrupt the already fragile Gulf shipping lanes. Shipowners aren't just facing abstract risks. This week, two tankers collided near the Strait, with at least one vessel reportedly transmitting erratic signals, fueling speculation about potential electronic interference. Meanwhile, insurers are increasingly uneasy that Houthi forces may expand their attack scope beyond just U.S., U.K., or Israeli-affiliated vessels. Marcus Baker, global head of marine and cargo at Marsh, said that while no missiles have hit ships in the Gulf so far, the industry is pricing in a far more volatile backdrop. With the war insurance market on edge, rates could rise further in the weeks ahead. Some insurers may pull back entirely. Others might lean in, betting on outsized gains in a high-risk, high-reward environment. War itself, as an insurance product, tends to be either you lose everything or make a fortune, Baker noted. That dynamicuncertainty mixed with profit potentialis exactly what keeps investors alert. For companies exposed to shipping or energy, including Tesla (NASDAQ:TSLA), which relies on stable supply chains, risks in the Strait could become a meaningful cost variable. As the conflict simmers, the market is recalibrating what it costs to move oil through one of the most strategically sensitive stretches of water on the planet. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
18-06-2025
- Business
- Yahoo
War Premiums Explode: Oil Tankers Face 60% Surge to Cross World's Most Dangerous Waterway
Insurance costs are rising fast for oil tankers passing through the Strait of Hormuzone of the world's most critical energy chokepoints. According to Marsh McLennan, war risk premiums for hull and machinery insurance have jumped from 0.125% to roughly 0.2% of ship value since the Israel-Iran conflict escalated. For a $100 million vessel, that's a jump from $125,000 to $200,000. The higher price reflects rising concern among underwriters that a broader regional escalationor even a single high-profile incidentcould disrupt the already fragile Gulf shipping lanes. Shipowners aren't just facing abstract risks. This week, two tankers collided near the Strait, with at least one vessel reportedly transmitting erratic signals, fueling speculation about potential electronic interference. Meanwhile, insurers are increasingly uneasy that Houthi forces may expand their attack scope beyond just U.S., U.K., or Israeli-affiliated vessels. Marcus Baker, global head of marine and cargo at Marsh, said that while no missiles have hit ships in the Gulf so far, the industry is pricing in a far more volatile backdrop. With the war insurance market on edge, rates could rise further in the weeks ahead. Some insurers may pull back entirely. Others might lean in, betting on outsized gains in a high-risk, high-reward environment. War itself, as an insurance product, tends to be either you lose everything or make a fortune, Baker noted. That dynamicuncertainty mixed with profit potentialis exactly what keeps investors alert. For companies exposed to shipping or energy, including Tesla (NASDAQ:TSLA), which relies on stable supply chains, risks in the Strait could become a meaningful cost variable. As the conflict simmers, the market is recalibrating what it costs to move oil through one of the most strategically sensitive stretches of water on the planet. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
