Ash Oro @ashoro.co.uk · 05/10/2026The physical risk is once again rising. Reports overnight include another tanker strike in Hormuz and explosions reported south of Bab al-Mandeb. That follows the recent cluster of attacks just as traffic was beginning to rebuild. 160
Ash Oro @ashoro.co.uk · 05/10/2026Each attack says the same thing to an underwriter, charterer and shipowner. “You may be able to transit. You cannot yet assume the transit is routine and safe.” That distinction is the difference between a route functioning and merely being passable. 180
Ash Oro @ashoro.co.uk · 05/10/2026Insurance, security, convoy delays, longer routing, extra fuel, waiting time and higher charter rates all enter the delivered price. Those costs do not disappear because Brent falls by a dollar or two on an emergency-stock announcement. 170
