War cover available for Hormuz trades but transit challenges remain: insurers

AI Summary

Insurance providers confirm availability of war coverage for ships transiting the Strait of Hormuz, but security and legal challenges continue to hinder normal maritime traffic. This follows a preliminary US-Iran peace agreement aiming to restore cargo flow through this strategic route.

War coverage is readily available for shipping companies seeking to transit the Strait of Hormuz, according to insurance industry participants, but obstacles remain for normal maritime traffic to return due to security and legal issues. On June 18, Iran and the US signed a preliminary peace agreement aiming to restore cargo flows via Hormuz — ...