War Risk Premium Hits 6%-10% of Hull Value After Hormuz Attack

The tanker incident that moved crude in the Strait of Hormuz on Friday is, on the shipping side, an insurance and freight story more than a supply story. The United Kingdom Maritime Trade Operations logged two notices the same day, first a tanker struck by a projectile on an outbound transit, then a small boat attaching explosives to another hull about 25 nautical miles north-east of Khasab, starting an engine-room fire with the crew reported safe. UKMTO confirmed both, named no perpetrator, and offered no vessel details. The additive war premium for a Gulf voyage now runs 6% to 10% of hull value, against roughly 0.25% before the conflict, according to broker quotes reported by Marsh; for a…