Shipowners face extra premiums with expansion of war risk zones
London insurance market agrees that additional premiums are required across wider area of the Middle East
Insurance
Iran officially declares the Strait of Hormuz as closed
Authorities promise fire and fury on any ship that tries to pass through the Staits of Hormuz
Strait of Hormuz shut. Iran will ‘set fire to anyone who tries to pass through’
Authorities promise fire and fury on any ship that attempts to transit the strait
Zurich confirms takeover plan for marine insurer Beazley
Industry giant confirms move for London-listed operator before deadline set by regulator
War risk insurers halt Strait of Hormuz cover amid de facto closure
Iranian threats lead to effective closure of key shipping chokepoint
Cosco Shipping Lines skips Middle East Gulf amid Iran conflict
Chinese shipping giant orders Middle East-bound vessels to slow down, stay put, or seek safe waters
Death reported as ‘foreign ship’ catches fire in Bahrain
Authorities had previously blamed Iran for attacking nearby terminal
Maritime insurers pull some war risk coverage after Middle East conflict explodes
Clubs announce end to fixed premium and charterers’ liability cover on Thursday
Russian shadow fleet insurer loses sanctions appeal
European court rejects appeal by AlfaStrakhovanie over 2023 sanctions decision
Lyras bows out at London Club as it reports big boost to tonnage at renewal
Greek shipowner John Lyras steps down after 30 years as chairman of the club’s board