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At a Glance The First Week of the Iran War at Sea On February 28 at 01:15 ET, the U.S. and Israel launched coordinated strikes against Iranian military targets under Operation Epic Fury, marking the start of the current conflict.  The operation targeted Islamic Revolutionary Guard Corps command facilities, missile and drone launch sites, air…

At a Glance Operational Overview  Maritime traffic across the Middle East remained deeply disrupted on March 4 as threats by Iran’s Revolutionary Guards against vessels transiting the Strait of Hormuz continued to shape the operating environment. Only five total vessel crossings were recorded through Hormuz, far below typical baseline levels and unchanged from the previous…

At a Glance Operational Overview  Maritime traffic through the Strait of Hormuz declined further on March 3 as the closure declared by Iran’s Revolutionary Guards continued to deter most commercial movement through the world’s most critical energy chokepoint. Only four vessels crossed the Strait during the day, representing a further 42.86% decline from March 2…

Insurance Market Reaction Traffic through the Strait of Hormuz declined by 80% within 24 hours of strikes being launched on Iran over the weekend as shipowners and charterers weighed whether to proceed with voyages. Chief among their considerations was the stance taken by the world’s reinsurers that ultimately underwrite the marine insurance market. By Monday,…